When quantity demanded equals quantity supplied,
A. there must be no government intervention in the market.
B. the market is in equilibrium.
C. the demand curve must be the same as the supply curve.
D. all of the above
Answer: B
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With perfect price discrimination, a monopoly can extract the ________ price each customer is willing to pay and thereby obtain the entire ________ surplus
A) maximum; consumer B) minimum; producer C) maximum; producer D) minimum; consumer E) None of the above answers is correct.
Total fixed cost is the sum of all
A) costs of the firm's fixed factors of production. B) costs associated with the production of goods. C) costs that rise as output increases. D) the marginal costs of the different factors of production.
Inflation leads to: a. higher menu costs
b. an increase in the propensities to consume. c. an increase in the potential gross domestic product. d. an increase in the effectiveness of monetary policy.
The monetary approach predicts that an increase in the money supply by 12 percent in both China and Thailand will
A. lower the volume of trade between Thailand and China. B. result in a depreciation of the Thai baht against the Yuan. C. result in an appreciation of the Thai baht against the Yuan. D. have no effect on the baht per Yuan exchange rate.