The monopolist's input demand curve is equal to its
A. marginal cost curve.
B. average cost curve.
C. variable cost curve.
D. marginal revenue product curve.
Answer: D
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If marginal profit is zero, then average profit is at a maximum.
Answer the following statement true (T) or false (F)
Which of the following is NOT a correct criticism of the Lorenz curve?
A) It does not include payments in kind. B) It does not deal with differences in family size. C) It ignores the impact of age distribution on income distribution. D) It refers to money income after taxes.
Since 1970, the annual inflation rate in the U.S. has been about 9.7 percent or more.
Answer the following statement true (T) or false (F)
This Marketing the Connection argues that a key difference between market economies and centrally planned economies, like the former Soviet Union, is that "In market economies, decisions about which investments to make and which technologies to adopt are made by entrepreneurs and managers with their own money on the line. In the Soviet system, these decisions were usually made by salaried bureaucrats trying to fulfill a plan formulated in Moscow." But in large corporations, investment decisions are often made by salaried managers who do not, in fact, have their own money on the line. These managers are spending the money of the firm's shareholders rather than their own money. The investment decisions of salaried managers int he United States tend to be better for the long-term growth of
the economy than were the decisions of salaried bureaucrats in the Soviet Union because: A. Soviet managers feared losing their jobs if they adopted new technologies B. U.S. managers are driven by incentives of higher profits, leading them to adopt new technologies C. U.S. managers face no competition from domestic and foreign firms D. Soviet bureaucrats concentrated on cutting costs as they faced intense competition from home and abroad