1. Assuming fixed quantities of other inputs, the total product curve relates:
A) output to variable cost.
B) fixed cost to variable cost.
C) output to a variable input.
D) output to total cost.
2. Economist Gordon Tullock suggests that monopolists may use up their ______________ to engage in rent-seeking behavior.
A) economic profits
B) marginal costs
C) deadweight loss
D) marginal revenue
These multiple choice questions belong to Economics. The 1st question is about total product curve and the 2nd question is about Gordon Tullock’s views on monopolists.
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