Profits are higher as isoprofit curves move closer to the:
A. Bertrand output, QBertrand.
B. monopoly output, QM.
C. Cournot output, QCournot.
D. peak of each isoprofit curve.
Answer: B
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Most economists agree that valid reasons for protecting trade include which of the following? I. The economies of scale argument II. The saving jobs argument III. The protection of high wages argument
A) I only B) I and II C) I and III D) None of the reasons are valid.
Ceteris paribus, an increase in the current or actual rate of inflation will cause
A) the unemployment rate to decrease (a movement along the short-run Phillips curve). B) the long-run Phillips curve to shift leftward. C) expectations of future inflation rates to be revised downward. D) the short-run Phillips curve to shift upward.
What is price discrimination?
What will be an ideal response?
Joshua has decided that he will only purchase a one-year Treasury bill with a face value of $500,000 if he receives an interest rate of 6.25%. How much will Joshua end up paying for this Treasury bill?
A) $439,338 B) $468,750 C) $470,588 D) $531,250