According to the above figure, the profit-maximizing price for the monopolist is
A) A.
B) B.
C) C.
D) D.
A
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When there is an increase in the duration of unemployment, the U.S. Congress typically responds by
A) lowering income taxes. B) extending unemployment benefits. C) encouraging unemployed U.S. workers to seek employment overseas. D) redefining "unemployed" so the unemployment rate does not look so bad.
When the Fed announces that it is raising the federal funds rate, this signals its intention to _______ bonds in the open market and _______ the money supply.
A. Buy; reduce B. Buy; increase C. Sell; reduce D. Sell; increase
Output (Bushels of Barley)Marginal Cost(Dollars)10 bushels$0.3020 bushels$0.6030 bushels$0.9040 bushels$1.20 Refer to Table 5.1, which gives Farmer McColl's marginal cost function for barley. Suppose Farmer McColl is one of 20 farmers in the barley market, and all of the farmers have identical marginal cost functions. If the market price of barley is $1.00 per bushel, which of the following could be the total amount of barley produced in the market?
A. 33 B. 600 C. 340 D. 700
A bowed Production Possibilities Curve (PPC) indicates
A. only 1 good is always being produced. B. changing technology. C. that the trade-off between the 2 goods is not constant. D. inefficient production.