To maximize its profit, a single-price monopoly produces the quantity at which
A) the difference between marginal revenue and marginal cost is as large as possible.
B) marginal revenue equals marginal cost.
C) average total cost is at its minimum.
D) the marginal cost curve intersects the demand curve.
E) the marginal revenue curve intersects the horizontal axis.
B
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A currency drain is cash ________ and has ________ effect on the money multiplier
A) draining into the banks; an B) held at the Fed; an C) draining into the banks; no D) held as reserves; no E) held outside the banks; an
Suppose a graph with Ron's weight on the vertical axis and his consumption of ice cream on the horizontal axis indicated that for each serving of ice cream he ate, Ron would gain 3 pounds, regardless of how much ice cream he had already eaten. This graph would show a
a. horizontal line at weight = 3 b. straight line with slope = 3 c. straight line with slope = 1/2 d. straight line with slope = -3 e. straight line with slope = -1/3
If Jason's fixed cost totals $800 with variable cost per unit of $10 at a quantity of 100 units, what would his average total cost equal?
a. $8.10 b. $18.00 c. $90.00 d. $91.00
The income generated by _____ will be included in the GDP of an economy
a. a professional working in small start-up firm outside the territory of the economy b. a person selling marijuana to college students c. a person selling electronic guides to tourists d. a farmer selling oranges to a fruit juice manufacturer