The United States Postal Service is an example of a monopoly created by
a. government franchise.
b. copyright.
c. control of scarce inputs.
d. rent-seeking behavior.
A
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Answer the following statement(s) true (T) or false (F)
1. According to the cost-effectiveness criterion, all polluting sources would abate pollution up to the point where their individual abatement levels were equal. 2. According to the cost-effective abatement criterion, all polluting sources would abate pollution up to the point where their individual total abatement cost (TAC) levels were equal. 3. If the MACs for firm 1 and 2 are: MAC1 = 0.4A1 and MAC2 = 0.8A2, respectively, and the combined abatement standard is 15 units, then the cost-effective abatement levels are 10 units for firm 1 and 5 units for firm 2. 4. Suppose the combined abatement standard is set at 22 units and firm J and firm K have MAC functions of MACJ = 0.5A, and MACK = 0.75A, respectively. If firm J is abating 10 units and firm K is abating 12 units, firm K should abate more units and firm J should abate less.
Everything else held constant, an increase in the money market fund ratio will mean ________ in the M2 money multiplier and ________ in the M2 money supply
A) an increase; an increase B) an increase; a decrease C) a decrease; an increase D) a decrease; a decrease
Assuming that total factor productivity is constant, describe the effect of an increase in the capital-labor ratio on the per worker production function
What happens to the marginal product of labor, the marginal product of capital, and real GDP per capita?
What happens to consumer surplus as price falls along a given demand curve?
a. It always increases. b. It always decreases. c. It never changes. d. It increases only if price increases just a little. e. It depends on the elasticity of demand and supply.