An individual would suffer lower losses from an unexpectedly higher inflation rate if
a. she held much currency and owned few bonds.
b. she held much currency and owned many bonds.
c. she held little currency and owned few bonds.
d. she held little currency and owned many bonds.
c
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What is the relationship between the marginal benefit, value, and demand?
What will be an ideal response?
Firms that produce an information product experience short-run economies of operation because
A) the firm will always produce in the decreasing portion of the marginal cost curve. B) of the U-shaped nature of the average total cost curve. C) of the U-shaped nature of the average variable cost curve. D) the average total cost of producing and selling the product declines as output increases.
Because a monopoly's demand curve is the same as the market demand curve for its product
A) the monopoly's marginal revenue equals its price. B) the monopoly is a price taker. C) the monopoly must lower its price to sell more of its product. D) the monopoly's average total cost always falls as it increases its output.
Public goods are
A. rival in consumption, and their benefits are nonexcludable. B. rival in consumption, and their benefits are excludable. C. nonrival in consumption, and their benefits are excludable. D. nonrival in consumption, and their benefits are nonexcludable.