Political instability is an obstacle to development in:
A. both market and socialist economies.
B. neither market nor socialist economies.
C. market economies.
D. socialist economies.
Answer: A
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A monopolist has demand and cost curves given by:
QD = 1000 - 2P TC = 5,000 + 50Q a. Find the monopolist's profit-maximizing quantity and price. b. Find the monopolist's profit.
Suppose a pizza restaurant has two pizza ovens that may be used to bake pizzas, so the restaurant has a maximum capacity constraint that affects the shape of the firm's short-run marginal cost curve
What happens to maximum capacity segment of this curve if the firm adds another pizza oven? A) Shifts upward B) Shifts downward C) Shifts leftward D) Shifts rightward
Which of the following is NOT true about a cartel?
A) Members earn economic profits. B) Members experience large economies to scale relative to industry demand. C) Cartels will set common prices for their members. D) Members of a cartel will have production quotas.
Decisions to buy or sell securities at the Fed are made by the:
a. Congress. b. Federal Open Market Committee. c. Federal Deposit Insurance Corporation. d. President's Council of Economic Advisors.