For a monopoly, marginal cost equals average total cost at every level of output.
Answer the following statement true (T) or false (F)
False
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Which of the following would result in a trade surplus for the United States?
A) Exports of goods = $550 billion Imports of goods = $575 billion Exports of services = $275 billion Imports of services = $300 billion B) Exports of goods = $725 billion Imports of goods = $790 billion Exports of services = $350 billion Imports of services = $260 billion C) Exports of goods = $625 billion Imports of goods = $625 billion Exports of services = $300 billion Imports of services = $375 billion D) None of the above will result in a trade surplus.
Today, the Dow Jones Industrial Average
A) consists of 30 stocks. B) is a set group of stocks that remains constant over time. C) contains stocks that are widely held by institutional investors and individuals. D) contains both stocks and bonds of large American companies. E) a and c
Refer to the following table showing a monopolist's demand schedule: 
If price falls from $20 to $10, then
A. MR = -$30, and demand is inelastic. B. MR = -$10, and demand is inelastic. C. MR = $30, and demand is elastic. D. MR = $10, and demand is elastic. E. none of the above
If a yet-to-be released video game receives a positive review in a popular gaming magazine,
A) the demand curve is expected to shift to the right. B) the demand curve is expected to shift to the left. C) the demand curve is not expected to change. D) for those who read the review, demand shifts to the left. For those who don't read the review, demand shifts to the right.