1) In India, Tata Motors is an insecure monopolist operating in the generally oligopolistic auto industry because Nissan and Renault are planning to release a car to rival Tata's Nano, which currently is the only car of its kind on the market.
a) True
b) False
2)Assume that a firm has not yet begun production and its Average total Cost =$250. What is the firm's Average Variable Cost?
a) 0
b)$250
c)equal to Average Fixed Cost
d)Equal to Average Fixed Cost minus per unit revenue
a) True
b) False
2)Assume that a firm has not yet begun production and its Average total Cost =$250. What is the firm's Average Variable Cost?
a) 0
b)$250
c)equal to Average Fixed Cost
d)Equal to Average Fixed Cost minus per unit revenue