If the price elasticity of demand is greater than 1, a monopoly's
A) total revenue increases when the firm lowers its price.
B) total revenue decreases when the firm lowers its price.
C) marginal revenue is negative.
D) marginal revenue is zero.
A
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After a tariff is imposed on a good, the price of the good
A) does not change. B) falls. C) rises. D) rises only if the domestic demand for the good does not change. E) might rise, fall, or not change depending on whether the government did or did not simultaneously impose a quota.
Eldin is a house painter. He can paint three houses per week. He is considering hiring his friend Murphy. Together, Eldin and Murphy can paint five houses per week. What is Murphy's marginal product?
a. 2 houses b. 3 houses c. 5 houses d. 8 houses
Which of the following serves as the central banker for private banks in the United States?
A. The legislative branch of the government. B. The executive branch of government. C. The Federal Open Market Committee. D. The 12 Federal Reserve banks.
Which type of analyst should generally outperform market index according to the Efficient Markets Hypothesis?
A) technical analysts B) fundamental analysts C) those that follow the random walk D) none of the above