According to the above figure, the profit maximizing price-output combination for the monopolist is a price of
A. 60 cents and an output of 30,000 newspapers per day.
B. 50 cents and an output of 40,000 newspapers per day.
C. 30 cents and an output of 30,000 newspapers per day.
D. 45 cents and an output of 45,000 newspapers per day.
Answer: A
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Refer to Table 2-5. Assume Nadia's Neckware only produces ascots and bowties. A combination of 24 ascots and 12 bowties would appear
A) along Nadia's production possibilities frontier. B) inside Nadia's production possibilities frontier. C) outside Nadia's production possibilities frontier. D) at the horizontal intercept of Nadia's production possibilities frontier.
Based on U.S. income data from 2011, the bottom fifth of all families received approximately what percent of all income?
a. 48.9 percent b. 21.3 percent c. 8.6 percent d. 3.8 percent
A precept is:
A. a proposition that is logically true based on the assumptions of a model. B. the application of models combined with judgment. C. a set of equations that define a model. D. a policy rule that concludes that a particular course of action is preferable.
The United States is experiencing recession, so Congress adopts an expansionary fiscal policy. State governments face a budget shortfall and raise taxes to balance their budgets. The actions of state governments would:
A. partially offset the fiscal policy. B. slightly increase aggregate supply. C. slightly increase aggregate demand. D. partially reinforce the fiscal policy.