A natural monopoly is based on economies of scale
a. True
b. False
A
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Which of the following is NOT an example of firms trying to prevent resale?
A) Movie theatres check student ID for students' discounted tickets. B) An aluminum company starts its own wire production firm to sell to the aircraft parts at a higher price. C) Government limits the sale of international edition textbooks in the U.S. market. D) Milk producers sell the milk to processed dairy products producers at a lower price.
The Bureau of Labor Statistics counts underemployed persons as those who are currently working:
A. in a job for which they are overqualified for. B. in a field that doesn't add a lot to overall GDP. C. less hours than their employer requires full-time workers to work. D. less than they would like to be.
In the above figure, the monopolist's profit-maximizing price is
A) A. B) B. C) C. D) D.
If Darby values a soccer ball at $50, and she pays $40 for it, her consumer surplus is $90
a. True b. False Indicate whether the statement is true or false