The monopolist's input demand curve is equal to its
A) variable cost curve.
B) marginal cost curve.
C) average cost curve.
D) marginal revenue product curve.
D
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Much of macroeconomics is concerned with advising governments on ways to ________ business cycles, since it is desirable to ________
A) amplify, create the greatest cyclical peaks possible B) amplify, create deep recessions to cool down the economy C) dampen, avoid both very low troughs and very high peaks D) dampen, keep the economy at its maximum productive capacity
If the roommates played the game repeatedly where one roommate not cleaning this time would trigger the other roommate not cleaning next time, the Nash equilibrium is most likely to be
a. John cleans, Joe doesn't b. Joe cleans, John doesn't c. Both of them clean d. Neither of them clean
Considering the concept of cross-price elasticity, if two goods are complements:
A. an increase in the price of one will cause a decrease in the demand for the other. B. an increase in the price of one will cause an increase in the demand for the other. C. a decrease in the price of one will cause a decrease in the demand for the other. D. the cross-price elasticity is positive.
One common mistake in applying the demand and supply framework is to confuse:
a. the shift of a demand or supply curve with movement along a demand or supply curve. b. whether the supply or demand curve is impacted by the change. c. the increase in demand with a shift in the supply curve. d. the increase in supply with a shift in the demand curve.