An unregulated monopoly will
A) flood the market with goods to deter entry.
B) produce only where marginal revenue is zero.
C) produce in the inelastic range of its demand curve.
D) produce in the elastic range of its demand curve.
D
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The market-based system which allocates tradeable pollution permits to companies is known as a cap-and-trade system
Indicate whether the statement is true or false
If part of the labor force is unemployed, the foregone goods and services are
A. lost until the unemployed find jobs. B. are replaced by unemployment insurance. C. are lost forever. D. are replaced by an equal amount of imports.
Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower
An increase in the price of input used to produce a product will lead to
A) a decrease in the demand for that product. B) a decrease in quantity supplied of that product C) a decrease in the supply of that product. D) an increase in the supply of that product.