Which of the following is likely in a monopolized market?
a. a price that exceeds marginal cost
b. a price that exceeds marginal revenue
c. a welfare loss due to the restriction of output
d. all of the above
d
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In the Romer model. as more labor is devoted to research and development ________
A) there is an immediate decrease in output per capita B) there is an immediate increase in output per capita C) output per capita is unaffected, but the savings rate begins to rise D) output per capita is unaffected, but the savings rate begins to fall
For a country to be a price taker in the global market for some good:
A. the quantity it produces and consumes must be very small relative to the total amount of that good bought and sold worldwide. B. the quantity it produces and consumes must be very large relative to the total amount of that good bought and sold worldwide. C. there must be many sellers all supplying a very significant amount to the market. D. there must be many buyers all buying a large amount from the market.
Flat organizations tend to
A) contract in. B) contract out. C) contract vertically. D) contract horizontally.
Refer to Figure 7.6. Graph A represents:
A. increasing returns to scale.
B. decreasing returns to scale.
C. constant returns to scale.
D. diminishing marginal returns.