If a profit-maximizing monopolist faces a downward-sloping market demand curve, its
a. average revenue is less than the price of the product.
b. average revenue is less than marginal revenue.
c. marginal revenue is less than the price of the product.
d. marginal revenue is greater than the price of the product.
c
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The quantity theory of money ________
A) is the product of classical economists B) links total income to a country's supply of money C) is derived from the equation of exchange D) all of the above E) none of the above
The primary advantage of mutual funds is that they
a. always make a return that "beats the market." b. allow people with small amounts of money to diversify. c. provide customers with a medium of exchange. d. All of the above are correct.
Which of the following would cause an economy to be producing at a point inside its production possibilities curve? A) the efficient allocation of all factors of production B) population growth C) unemployment and an inefficient use of available resources D) capital accumulation
Menu costs will:
A. increase the amount of training of workers. B. make prices inflexible downward. C. increase the legal minimum wage. D. result in price wars between businesses.