Total utility is the benefit received from consuming an extra unit of a good
Indicate whether the statement is true or false
FALSE
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Because it provides some indication of what is happening to U.S. claims on foreign wealth and the demand for imports and exports, the ________ is closely followed by economists wanting information on the future movement of exchange rates
A) trade balance B) capital account C) current account balance D) statistical discrepancy
The benefit of a subsidy accrues mostly to consumers
A) in every instance. B) if Ed/Es is large. C) if Ed/Es is small. D) if Ed and Es are equal. E) in no instance.
If a monopolist is producing at the profit-maximizing level of output, what price will it charge?
a. The price given by the marginal-revenue curve at that level of output. b. The price given by the marginal-cost curve at that level of output. c. The price given by the average-cost curve at that level of output. d. The price given by the average-revenue curve at that level of output. e. The price given by the total revenue curve at that level of output.
Price leadership is a form of
A. tacit collusion. B. explicit collusion. C. monopolistic competition. D. a cartel policing mechanism.