Conclusions about the misallocation of resources under conditions of monopoly depend, in part, on the crucial assumption that
A. the marginal cost curve of a monopolist is different from that of a perfectly competitive firm.
B. monopolies are interested in economic profits and competitive firms are not.
C. the economies of scale exist only in perfectly competitive industries.
D. the monopolization of a perfectly competitive industry does not change the cost structure of the industry.
Answer: D
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Refer to the table above. Is the United States a debtor or a creditor nation in 2019?
A) a debtor nation B) neither a creditor nor debtor nation C) a creditor nation D) both a creditor nation and a debtor nation E) More information is needed to determine if the United States is a debtor or creditor nation.
Gls
A) results in smaller variances of the estimator than OLS if the regressors are strictly exogenous. B) is the same as OLS using HAC standard errors. C) can be used even if the regressors are not strictly exogenous. D) can be used for time-series estimation, but not in cross-sectional data.
Which of the following expenditures would not be included in GDP?
a. All of these choices would be counted in GDP. b. Purchase of a new lawnmower. c. Purchase of a silver cup previously sold new in 1950. d. Purchase of a ticket to the latest movie.
If the nominal wage is $12 per hour and the price level (as measured by a price index) is 2, it follows that the real wage is _________ per hour
A) $24.00 B) $6.00 C) $2.50 D) $14.00. E) none of the above