Refer to Figure 15-6. The monopolist's total revenue is
A) $1,116. B) $1,488. C) $1,726.40 D) $1,826.
B
You might also like to view...
For simplicity, the IS model assumes that neither net exports nor net taxes vary with income. A more realistic (and complicated) model would drop such assumptions. How would the behavior of the IS curve differ in the more realistic model?
What will be an ideal response?
The market demand for wheat is Q = 100 - 2p + 1pb + 2Y. If the price of wheat, p, is $2, and the price of barley, pb, is $3, and income, Y, is $1000, the income elasticity of wheat is
A) 2 ? (1000/2099 ). B) 2. C) 1/2 ? (1000/2099 ). D) cannot be calculated from the information provided.
The substitution effect can be defined as:
A. the change in consumption that results from a change in the relative price of goods. B. the change in consumption that results from increased effective wealth due to lower prices. C. the change in consumption that results from increased effective wealth due to getting a raise. D. the change in income that results from increased effective consumption due to lower prices
In response to the sharp decline in stock prices in October 1987, the Federal Reserve
a. increased interest rates, and the economy avoided a recession. b. increased interest rates, but the economy was unable to avoid a recession. c. decreased interest rates, and the economy avoided a recession. d. decreased interest rates, but the economy was unable to avoid a recession.