In the figure above, the single-price, unregulated monopoly sets a price of
A) $80 per unit.
B) $60 per unit.
C) $40 per unit.
D) $0 per unit.
B
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Which of the following is not considered a factor of production?
A) money B) capital C) land D) entrepreneurial ideas E) labor
The independence axiom implies that if I prefer a bottle of wine over a six pack of beer I will prefer half a bottle of wine with a bag of pretzels over half a sixpack of beer with a bag of pretzels.
Answer the following statement true (T) or false (F)
The price of a seller's product in perfect competition is determined by
A) the individual seller. B) the individual demander. C) market demand and market supply. D) a few of the sellers.
The amount that the bank is legally required to keep on hand is called the:
A. demand deposits. B. reserve ratio. C. required reserves. D. federal funds.