Which of the following is a characteristic of an indifference curve?

Which of the following is a characteristic of an indifference curve?
 a. Positive slope.
  b. Concave shape.
  c. Negative slope.
  d. Zero slope.

QUESTION 2

Under what conditions might a monopoly lose money?

QUESTION 3

An indifference curve consists of quantity combinations of two goods that yield:
 a. equal marginal utilities.
  b. negative marginal utilities.
  c. the same price ratios.
  d. the same total satisfaction.

QUESTION 4

What is the shut-down rule for any firm?

QUESTION 5

Along an indifference curve for goods X and Y, the vertical and horizontal axes measure the:
 a. prices of X and Y.
  b. total utilities of X and Y.
  c. quantities of X and Y.
  d. marginal utilities of X and Y.

QUESTION 6

What is a natural monopoly? Why is government justified in regulating a natural monopoly?

QUESTION 7

When quantities of two goods belong to the same indifference curve, which of the following is true?
 a. The combinations of the two goods along the indifference curve yield the same total utility.
  b. Prices of the two goods are equal.
  c. Marginal utilities of both goods are equal.
  d. The total utility of all combinations above the curve equal zero.

QUESTION 8

Price discrimination often permits some consumers who otherwise would be excluded from a market to buy a good or service.
 a. True
  b. False
  Indicate whether the statement is true or false