Which produces more output: a perfectly price discriminating monopoly or a single-price monopoly?
What will be an ideal response?
The monopoly practicing perfect price discrimination produces more output. Indeed, a perfectly price discriminating monopoly produces the efficient level of output.
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Who among the following provides a productive service?
A) Bill, a talented software developer B) Monica, a paid Washington, D.C. intern C) Buggs, an illicit drug smuggler D) All of the above.
The vicious circle of poverty is the trap in which the LDC is too poor to save and therefore it cannot invest and remains poor
a. True b. False Indicate whether the statement is true or false
The amount of money that someone would pay today for the right to receive a future payment is called
a. the present value of the future payment b. the determinate value of the future payment c. the interest rate d. the principal e. the time discount
The economic profit earned by a firm is calculated by subtracting explicit costs from total revenue
a. True b. False Indicate whether the statement is true or false