A monopolist will charge a lower price and produce more output than if it was operating in a competitive market
a. True
b. False
Indicate whether the statement is true or false
False
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The real wages of workers will tend to be high when
a. output per worker is high. b. capital is scarce. c. industries are automating at a slow rate. d. profits are low.
Positive externalities
a. result in a larger than efficient equilibrium quantity. b. result in smaller than efficient equilibrium quantity. c. result in an efficient equilibrium quantity. d. can be internalized with a corrective tax.
The above table shows the daily production possibilities for a bakery. Currently the bakery bakes 60 pizzas and 180 loaves of bread, that is at alternative C. Using the above table, what is the opportunity cost of moving from alternative C to alternative D?
a. 1/2 loaf of bread b. 60 loaves of bread c. 2 loaves of bread d. 30 loaves of bread
Compared to other high-income countries, health care spending per person in the United States has been
A) growing at a faster rate. B) declining at a faster rate. C) growing at approximately the same rate. D) declining at approximately the same rate.