Question
True or False (Determine if the statement is true or false and write the answer below....
True or False (Determine if the statement is true or false and
write the answer below. Each question is worth 1 point.)
1) Macroeconomics is concerned with the behavior of all of the
firms in a particular industry, while microeconomics focuses on a
single firm in the same industry.
Answer:
2) Managerial economics refers to the application of
macroeconomics and microeconomics to business decision
making.
Answer:
3) Because it is the only firm operating in a particular
market, a monopolist is guaranteed to earn an economic
profit.
Homework Answers
Answer #1
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