If a monopolist faces a linear demand curve, its marginal revenue curve will be:
A) horizontal.
B) vertical.
C) twice as steep as the demand curve.
D) four times as steep as the demand curve.
C
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Which of the following is true?
A) Employment and unemployment are both coincident with the business cycle. B) Employment and unemployment are both procyclical. C) Employment is procyclical and unemployment is coincident with the business cycle. D) Employment is procyclical and unemployment is countercyclical.
Shawn determines that if Lexall Corporation has high revenues, then Waters Corporation will have low revenues, and that if Lexall Corporation has low revenues, then Waters Corporation will have high revenues. Shawn buys stock in both corporations
a. He has reduced firm-specific risk but not market risk. b. He has reduced market risk, but not firm-specific risk. c. He had reduce both firm-specific risk and market risk. d. He has reduced neither firm-specific risk nor market risk.
If the United States, at the point where it is currently producing, must give up the production of 500 bicycles (B) to produce 20 additional tractors (T) with the same resources, its opportunity cost may be expressed as:
A) 1/25B = 1T. B) 1B=1T. C) 1B=25T. D) 25B=1T.
An exclusive legal right as sole producer for 20 years granted to an inventor of a product is called a:
A. Copyright B. Franchise C. Patent D. License