A monopoly will be maximizing profit if it is operating at the point where the
a. price is at a maximum
b. average cost is at a minimum
c. average cost is at a maximum
d. marginal cost is at a minimum
e. marginal revenue = marginal cost
E
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If Project A has a cost of $2 and provides a benefit of $3, and Project B has a cost of $ 5 and provides a benefit of $8, which of the following statements is true?
A) A shift from Project A to Project B increases the net benefit by $1. B) The net benefit of Project A is $5. C) An individual can optimize by choosing Project B. D) Project A has a higher net benefit than Project B.
In the long-run equilibrium for a perfectly competitive market
A) the firms' economic profits are zero. B) there is no incentive for entry or exit. C) average total costs of production are minimized. D) All of the above are correct.
Which of the following is the most important protection against fears of bank collapse?
a. The Federal Reserve. b. The Federal Reserve Open Market Committee. c. The Federal Deposit Insurance Corporation. d. The gold and silver that backs Federal Reserve notes.
In 2017, an income of $125,000 would, roughly, make a family
A. richer than 40 percent of U.S. households but poorer than 35 percent. B. richer than 50 percent of U.S. households but poorer than 25 percent. C. richer than 85 percent of U.S. households but poorer than 8 percent. D. richer than 95 percent of U.S. households but poorer than 1 percent.