A monopolist who has a ________ and perfectly price discriminates appropriates all consumer surplus as profit.
A. horizontal ATC schedule
B. downward-sloping MR curve
C. demand curve which is the same as its MR curve
D. vertical ATC schedule
Answer: A
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If the economy is characterized by increasing returns to scale, then a
A) doubling of inputs will lead to a more than two-fold increase in output. B) doubling of inputs will lead to a constant output. C) doubling of inputs will lead to a two-fold increase in output. D) doubling of inputs will lead to a less than two-fold increase in output.
Refer to Figure 10.1. If the monopolist is not regulated, the price will be set at ________
A) P1 B) P2 C) P3 D) P4 E) none of the above
When a nation's political environment is more favorable, it will:
a. attract more physical investment. b. encourage individuals to invest more heavily in human capital. c. encourage the development and efficient use of natural resources. d. do all of these.
There are _____ nations in the European Union.
Fill in the blank(s) with the appropriate word(s).