For a nondiscriminating monopolist, which of the following statements is true?
a. Unlike a firm in perfect competition, a monopolist produces where MR > MC.
b. The monopolist's marginal revenue curve is the same as its demand curve.
c. The monopolist will always produce in the inelastic range of its demand curve.
d. The monopolist does not have a supply curve.
e. The monopolist produces where MR < MC.
D
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Refer to Figure 15-11. In the dynamic model of AD-AS in the figure above, if the economy is at point A in year 1 and is expected to go to point B in year 2, and the Federal Reserve pursues no policy, then at point B
A) incomes and profits are rising. B) the economy is below full employment. C) the unemployment rate is very, very low. D) there is pressure on wages and prices to rise. E) firms are operating above their normal capacity.
A market in which adverse selection occurs is often called a lemons market
a. True b. False Indicate whether the statement is true or false
Equilibrium price must increase when demand
a. increases and supply does not change, when demand does not change and supply decreases, and when demand decreases and supply increases simultaneously. b. increases and supply does not change, when demand does not change and supply decreases, and when demand increases and supply decreases simultaneously. c. decreases and supply does not change, when demand does not change and supply increases, and when demand decreases and supply increases simultaneously. d. decreases and supply does not change, when demand does not change and supply increases, and when demand increases and supply decreases simultaneously.
Which of the following examples could be used to determine the net interest for a household?
a. $800 (interest paid on home mortgage) multiplied by $200 (interest paid on car loan) b. $100 (interest received from saving account) divided by $800 (interest paid on home mortgage) c. $800 (interest paid on home mortgage) plus $200 (interest paid on car loan) d. $100 (interest received from saving account) minus $800 (interest paid on home mortgage)