Show, or explain, why a monopolist with positive marginal costs charges a price on the elastic range of his/her demand curve
In the elastic range of demand, marginal revenue is positive. To maximize profit with positive marginal
cost, marginal revenue must be positive and equal to marginal cost.
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Resources devoted to complying with the tax laws are a type of deadweight loss
a. True b. False Indicate whether the statement is true or false
The coefficient of determination (R2) decreases when an independent variable is added to a multiple regression model.
Answer the following statement true (T) or false (F)
In the early 2000s, Chinese officials indicted members of a forgery syndicate that sold several hundred diplomas to high school graduates who needed the diplomas to take employment tests. This situation, where having the certificate of knowledge is more important than the knowledge itself, is known as:
A. the brain drain. B. human capital. C. certification. D. credentialism.
The Clayton Act of 1914
A. outlawed all mergers. B. abolished the Sherman Act of 1890. C. outlawed specific business practices that discouraged competition. D. reduced the federal government's antitrust authority.