Which of the following statements is not always correct? In two-input production models, constant returns to scale indicate horizontal marginal cost curves. If labour and capital are perfect complements in production, short run supply curves involve a vertical segment. When output price increases, the long run increase in labour input use will be more than the short run increase in labour input use. If a monopolist has zero marginal and fixed costs and faces a market demand curve with constant price elasticity -1, then any quantity is profit maximising

Which of the following statements is not always correct? In two-input production models, constant returns to scale indicate horizontal marginal cost curves. If labour and capital are perfect complements in production, short run supply curves involve a vertical segment. When output price increases, the long run increase in labour input use will be more than the short run increase in labour input use. If a monopolist has zero marginal and fixed costs and faces a market demand curve with constant price elasticity -1, then any quantity is profit maximising

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter13: Antitrust And Regulation

Section: Chapter Questions

Problem 10SQP

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