For the unregulated, single-price monopoly shown in the figure above, when its profit is maximized, output will be
A) 4 units per year and the price will be $6.
B) 4 units per year and the price will be $4.
C) 6 units per year and the price will be $4.
D) None of the above answers is correct.
A
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Legally established titles to ownership, use, and disposal of factors of production and goods and services, are called ________ rights
A) government B) pollution C) property D) inefficient E) private
Logrolling may result in
A) creating limited incentives for policymakers to consider the immediate consequences of their proposed legislation. B) legislation that yields economy-wide benefits, the funding for which is borne primarily by a few of the smallest states. C) members of Congress selling their votes on proposed legislation to the highest bidder. D) a majority of Congress supporting legislation that benefits the economic interests of a few, while harming the economic interests of a much larger group.
International trade in the U.S. during the antebellum period
(a) benefited the Northern economy more than the Southern economy. (b) benefited England significantly more than the U.S. (c) played an important part in the growth and expansion of the Southern economy. (d) occurred as described in all of the above.
Within a country, a tariff mainly causes a redistribution of well-being between the domestic producers and the government.
Answer the following statement true (T) or false (F)