When compared to firms in perfect competition, monopolists tend to charge __________ prices and offer __________ quantities of output
a. lower; lower
b. higher; lower
c. lower; higher
d. higher; higher
e. higher; the same
B
You might also like to view...
If Congress conducted public hearings to decide whether subsidies should be granted to the steel industry, taxpayers would not be well represented at the hearings because
A) no hearing room would be large enough to hold all the taxpayers who would want to testify. B) single taxpayers do not have a large enough stake in the issue to justify the cost of attending the hearings. C) taxpayers would not gain or lose, no matter how the issue was decided. D) they are apathetic. E) they know only money buys votes.
People react to an excess supply of money by:
a. selling bonds, thus driving up the interest rate. b. selling bonds, thus driving down the interest rate. c. buying bonds, thus driving up the interest rate. d. buying bonds, thus driving down the interest rate.
A higher real interest rate ________ saving and ________ consumption spending.
A. increases; decreases B. does not change; does not change C. increases; increases D. decreases; increases
At age 40, Joe is considering quitting his job and going back for a college degree. He needs two more years full-time. Tuition is $10,000 per year. He earns $30,000 per year. A college degree would raise his annual income by $10,000 per year. He will retire at age 70. Which of the following makes it less likely that Joe will decide to go back to college full-time?
A) The extra income due to a college degree rises. B) The rate of interest decreases. C) The government enacts mandatory retirement at age 60. D) Tuition decreases.