A monopolist will
a. never produce at an output level where marginal revenue is positive
b. never produce at an output level where marginal revenue is constant
c. never produce at an output level where marginal revenue is negative
d. never produce at an output level where marginal cost is positive
e. ignore marginal revenue as long as average revenue is positive
C
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For an individual LM curve, the money supply is assumed to
A) be constant. B) grow at a rate equal to the interest rate. C) grow at a rate equal to the growth rate in income. D) grow at a rate equal to the marginal propensity to consume.
The price of labor in the agricultural industry has just increased. For agricultural products, this will lead to
A) an increase in price and a decrease in quantity. B) an increase in price and an increase in quantity. C) a decrease in price and a decrease in quantity. D) a decrease in price and an increase in quantity.
Singapore's health care system is identified by critics of the PPACA as one good alternative system to study and emulate. Singapore has the following characteristics, except:
A. Singapore has among the world's lowest infant mortality rates B. Singapore spends about the same on health care per person as the U.S., but it ranks among the top in every health-quality category monitored by the World Health Organization unlike the U.S. C. Singapore has among the world's highest life expectancies D. Singapore spends less than 4% of its GDP on health care
Consider the above figure. At income level Yd = $30, the APC is equal to
A) 0.05. B) 1.05. C) 1.25. D) 1.67.