The most profitable price for a monopolist is
A) the price at which demand is unit elastic.
B) a price that maximizes the quantity sold.
C) the highest price a consumer is willing to pay for the monopolist's product.
D) the price for which marginal revenue equals marginal cost.
D
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The lag between the time that the need for fiscal action is recognized and the time action is actually taken is referred to as the
A. spending lag. B. implementation lag. C. legislative lag. D. recognition lag.
A monopolist faces a demand curve that is
a. more elastic than a perfectly competitive firm's demand curve b. the market demand curve c. downward sloping as is the perfectly competitive firm's demand curve but the monopoly's demand curve is more inelastic d. horizontal as is the perfectly competitive firm's demand curve but the monopoly's demand curve is more inelastic e. totally insensitive to changes in consumer tastes
If bagels and croissants are substitute goods, which of the following is likely to occur if the price of bagels has decreased?
A) The demand curve for bagels shifts to the right. B) A leftward movement along the bagel demand curve. C) The demand curve for croissants shifts to the right. D) The demand curve for croissants shifts to the left.
What are the four types of externality?
What will be an ideal response?