Refer to Figure 15-3. Suppose the monopolist represented in the diagram above produces positive output. What is the profit-maximizing/loss-minimizing output level?

The multiple changes in income and output that results from a change in autonomous expenditure is called the multiplier

Indicate whether the statement is true or false

If the price is $5 and the quantity demanded is 100 units, then at a price of $10, the quantity demanded will be

A) less than or equal to 100 units. B) greater than or equal to 100 units. C) less than or equal to 1000 units. D) equal to 100 units.

The short-run supply curve and short-run marginal cost curve for a perfectly competitive firm coincide when the market price is greater than average variable cost

a. True b. False Indicate whether the statement is true or false

If the marginal net utility of beer is a positive number, the consumer should buy more beer in order to maximize utility

a. True b. False Indicate whether the statement is true or false