Consider an unregulated monopoly in Figure 13.2. At the firm's profit maximizing output level, its total cost is:
A. $1,000,000.
B. $200,000.
C. $800,000.
D. $600,000.
Answer: C
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A natural monopoly is likely to experience diseconomies of scale
Indicate whether the statement is true or false
Those economists who believe that monetary policy is more powerful than fiscal policy argue that the
a. LM curve is vertical. b. IS curve is horizontal. c. interest rate elasticity of investment is large. d. interest rate elasticity of investment is small.
A legal claim to a percentage of a company's future profits and assets is known as a
A) share of stock. B) bond. C) dividend. D) random walk.
The adaptive expectations hypothesis implies that people:
a. adjust their expectations quickly to policy changes. b. expect the next period to be pretty much like the recent past. c. will always be correct in their forecast for the next period. d. change their expectations about the future if policy changes.