The monopolist and the perfect competitor differ in that
A. they face different demand curves.
B. the monopolist does not always produce at an output in which MC = MR.
C. the monopolist is always a large firm.
D. the monopolist is more efficient.
A. they face different demand curves.
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A 50 percent tax on the profits of a monopolist will
a. be totally shifted to the consumer. b. raise price and lower quantity. c. cause no change in profit-maximizing price and quantity. d. change price but not quantity.
If an owner of a copy center is interested in knowing which of her employees can make the most copies in one hour, she wants to understand _____.
(A) Which employee has the absolute advantage in making copies. (B) The opportunity cost of employees making copies . (C) Which employee has the comparative advantage in making copies. (D) The resource distribution of her copy center.
An increase in the price of wheat will lead to
A. a leftward shift in the demand curve for wheat. B. a rightward shift in the supply curve for wheat. C. an increase in the quantity of wheat consumed. D. an upward movement along the demand curve for wheat.
If you want to vote for the management of the corporation, you should buy
A) common stock. B) preferred stock. C) bonds. D) either common stock or preferred stock.