Other things being equal, the monopolist will
A) hire more workers than if the industry were perfectly competitive.
B) hire the same number of workers as a perfectly competitive industry would.
C) hire fewer workers than if the industry were perfectly competitive.
D) have lower profits than if the industry were perfectly competitive.
Answer: C
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Which of the following policies is designed specifically to directly promote technological change in an economy?
A) laws to strengthen property rights B) government subsidization of research and development C) tax incentives to promote investment in 401K plans D) a vaccination program to combat infectious diseases
Total expenditure equals price times quantity
a. True b. False Indicate whether the statement is true or false
If the quantity of loanable funds supplied exceeds the quantity of loanable funds demanded,
a. there is a surplus and the interest rate is above the equilibrium level. b. there is a surplus and the interest rate is below the equilibrium level. c. there is a shortage and the interest rate is above the equilibrium level. d. there is a shortage and the interest rate is below the equilibrium level.
The wage a person requires before accepting a job is referred to as the ________ wage.
A. compensating B. reservation C. psychological D. minimum