Because the marginal revenue curve for a monopolist lies below its demand curve, the profit-maximizing price of the monopolist will be above marginal cost.
Answer the following statement true (T) or false (F)
True
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Suppose your bank pays you 4 percent interest per year on your savings account, so that $1,000 grows to $1,040 over a one-year period
If prices increase by 1 percent per year over that time, approximately how much real value do you gain by keeping $100 in the bank for a year? A) $0 B) $10 C) $30 D) $50
A duopoly is
A. a cartel in which all members try to cheat on the cartel. B. an industry with only two sellers. C. an industry with only two buyers. D. a cartel with only two members.
For a competitive firm, the value of the marginal product:
A. increases for each additional worker. B. remains constant across workers. C. is zero when profits are maximized. D. decreases for each additional worker.
If speculators with Swiss francs believed the yen was going to depreciate against the dollar, they would most likely: =
A. Purchase euros. B. Purchase dollars. C. Not participate in foreign exchange markets because of the volatility. D. Purchase yen.