Economic discrimination and prejudice
A. are synonymous.
B. must both exist in statistical discrimination.
C. often occur together.
D. are mutually exclusive.
Answer: C
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Reducing environmental pollution beyond the socially optimal amount increases society's welfare
a. True b. False Indicate whether the statement is true or false
Speculative attacks against a currency are caused by fears of:
A. monetary policy tightening. B. exchange rate revaluations. C. exchange rate devaluations. D. balance-of-payments surpluses.
Which of the following statements accurately describes a difference between a firm that is a monopolist and one that is a competitive price taker?
A. Marginal revenue and market price are equal for the competitive price taker but not for the monopolist. B. The monopolist does not always produce the output that equates marginal cost and marginal revenue; the competitive price taker does. C. The monopolist charges the highest price possible; the competitive price taker charges a price equal to its per-unit cost. D. A monopolist can earn economic profit in the short run; a competitive price taker cannot.
If short-run economic profits are greater than zero for firms in a monopolistically competitive market, in the long run we expect:
A. entry barriers to prevent competing firms from entering this market. B. the demand curve for firms in the market to shift to the right. C. competing firms to enter the market and sell similar products. D. profits to increase.