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gview - ECMAfld Solution for 2008 Final Exam For#13 III is...

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Unformatted text preview: ECMAfld: Solution for 2008 Final Exam For #13: III is wrong because it may be the situation that when number of firms increased. For #3?: Let TC=TFC+TVC, TC“=1.ZTFC+TVC Thus AFC*=1.2AFC, AE*=1.ZAFC+A‘L’C s: 1.2 [AFC+AVC] And change in TFC doesn’t affect MC {since TFC isjust a number]. For it 33: similarto #3?, draw a graph and you will get it. For #40: II is wrong because monopoly is dynamically efficient. III is wrong because monopoly has no supply curve at all. ...
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