In the figure above, the single-price, unregulated monopoly produces
A) less than 19 units per day.
B) 20 units per day.
C) between 21 and 39 units per day.
D) 40 or more units per day.
B
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The largest value the Herfindahl index can have is
a. 100, which would indicate a monopoly b. 100 for firms equal in size c. 100,000 d. 10,000 . which would indicate a pure monopoly e. infinity
When externalities exist, economic efficiency is achieved when marginal private benefit equals marginal private cost
a. True b. False Indicate whether the statement is true or false
A customs duty is
a. not a tax b. a progressive tax with respect to income c. a regressive tax with respect to income d. a proportional tax with respect to income e. a proportional tax with respect to wealth
If investment decreases by $20 billion and the economy's MPC is .5, the aggregate demand curve will shift:
A. leftward by $40 billion at each price level. B. rightward by $20 billion at each price level. C. rightward by $40 billion at each price level. D. leftward by $20 billion at each price level.