Like competitive firms, monopolies charge a price equal to marginal cost
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C
The quantity of labor an individual supplies to any market
a. always increases as the market wage rate rises b. is contingent upon the wage rates offered in other labor markets c. always decreases as the market wage rate rises d. could never be zero over the realistic range of wage rates e. depends only on the opportunity cost of the individual's time in other labor markets
A situation in which output decreases while prices increase is often referred to as:
A. inflation. B. negative economic growth. C. a recession. D. stagflation.
________ major distinguishing characteristic is that firms are interdependent.
A. Perfect competition's B. Monopolistic Competition's C. Monopoly's D. Oligopoly's