Refer to the table below. What is Gorgeous Sands Resort's long-run marginal cost?
The table above summarizes Gorgeous Sands Resort's marginal capacity cost, marginal operating cost, peak marginal revenue, off-peak marginal revenue, and its peak and off-peak demand for its resort units.
A) $6,000
B) $1,000
C) $5,000
D) $4,000
A) $6,000
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Which of the following will decrease aggregate expenditure in the United States?
A) a decrease in the value of the dollar B) a decrease in interest rates C) a decrease in the price level D) a decrease in government purchases
If the inverse demand curve a monopoly faces is p = 100 - 2Q, and MC is constant at 16, then maximum profit
A) equals $336. B) equals $882. C) equals $1,218. D) cannot be determined solely from the information provided.
Which of the following refers to business cycles?
a. Variations in the economy that are all equal in intensity b. Seasonal variations in the economy that occur every year c. Fluctuations in economic output that show a declining growth pattern over time d. Periodic but irregular variations in economic activity e. Fluctuations in the profits that businesses in an economy earn over a period of time
The given nondiscriminating monopolist should set its price at:
A. $300.
B. $250.
C. $200.
D. $150.