A monopolistically competitive firm makes positive economic profits if ________
A) price is less than average total cost
B) price is higher than average total cost
C) price equals marginal cost
D) price equals average fixed cost
B
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The reason poor, young, unmarried women allow themselves to get pregnant is so they can get on welfare, according to conservatives like ____________.
Fill in the blank(s) with the appropriate word(s).
The controller of a monopoly sets the price of goods by charging _____.
(A) As much as possible, regardless of the amount sold. (B) Less than the company would charge if it did not have a monopoly. (C) The price at which the profit is maximized. (D) Only a small amount over cost.
A company that has a contingency plan in place to protect against an unexpected disaster is considered to be
a. Lean b. Agile c. Fast d. Efficient
Consider the hypothetical supply and demand of Kidneys.
Initially, Kidney exchanges are regulated to donations only. This means kidneys can only be exchanged at a price of zero. What is the deadweight loss from this restriction?
A. $825,000 B. $0 C. $1200 D. $1,350,000