Price-taking producers have horizontal marginal revenue curves.
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Q7: In the one-input model, profit is always
Q8: When single-input producer choice sets are non-convex,
Q9: Whenever average cost is increasing, marginal cost
Q10: In the one-input model, a convex producer
Q11: Labor demand curves always slope down.
Q13: If the single-input producer choice set is
Q14: The law of diminishing marginal product holds
Q15: Output supply curves always slope up in
Q16: In the one-input model, the marginal cost
Q17: The output level is constant along any
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