The profit maximizing price for the monopolist will be
A. $5.00.
B. $2.90.
C. $3.35.
D. $4.50.
Answer: D. $4.50.
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The quantity demanded in a market depends on many things, but the concept of elasticity focuses on the effect of changes in the price of the good
a. True b. False Indicate whether the statement is true or false
The time necessary to put a desired policy into effect once economists and policymakers acknowledge that the economy is in an expansion or a recession is called a(n): a. recognition lag
b. implementation lag. c. operational lag. d. administrative lag.
Many developing countries face a balance of payments constraint because:
A. they fail to implement exchange rate policy correctly. B. they hold too few international reserves. C. they hold too many international reserves. D. the IMF forces them to adopt policies that are counterproductive.
When an increase of a firm's scale of production leads to higher average costs per unit produced, there is an increasing return to scale.
Answer the following statement true (T) or false (F)