If Canada began to export maple syrup to Australia, which of the following will happen?
a. The price of maple syrup in Australia will increase and Australian consumers will be made worse off.
b. The price of maple syrup in Australia will decrease and the Australian consumers will be made better off.
c. The price of maple syrup in Canada will decrease and the Canadian consumers will be made better off.
d. The price of maple syrup in Canada will increase and the Canadian consumer will be made worse off.
e. The price of maple syrup in Canada will decrease and the Canadian consumer will be made worse off.
D
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The situation in which the long-run average cost curve exhibits economies of scale over the entire range of output is called a "natural monopoly
" Explain why, in the case of a natural monopoly, it would be cost efficient to have a single firm serve the entire market.
Reverse repurchase agreements are often used to
A) increase bank reserves permanently. B) increase bank reserves temporarily. C) reduce bank reserves permanently. D) reduce bank reserves temporarily.
A profit-maximizing monopoly will spend on a process innovation
a. up to the point where P = MC.
b. up to the point where P = AC.
c. anywhere where MR>MC.
d. up to the point where MR = MC.
e. anywhere where MR
Countries that have higher saving rates are likely to have
A. A lower investment rate as a percentage of GDP and a lower growth rate of real GDP. B. A higher investment rate as a percentage of GDP and a lower growth rate of real GDP. C. A lower investment rate as a percentage of GDP and a higher growth rate of real GDP. D. A higher investment rate as a percentage of GDP and a higher growth rate of real GDP.