A monopoly can earn positive profits because it
a. can sell unlimited quantities at any price it chooses.
b. takes the market price as given and can sell unlimited quantities.
c. can set the price it charges for its output but faces a horizontal demand curve.
d. can maintain a price such that total revenues will exceed total costs.
d
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The above table gives data on two variables. If these data were graphed, the slope of the line would be
A) 1. B) -2. C) 2. D) -4.
Most state governments in the United States operate under constitutional provisions that severely restrict expenditures financed by borrowing
Suppose this were to change, so that state governments' access to credit markets was no different from the federal government. What consequences would you predict for the nation's aggregate debt burden?
You should use the QLR test for breaks in the regression coefficients, when
A) the Chow F-test has a p value of between 0.05 and 0.10. B) the suspected break data is not known. C) there are breaks in only some, but not all, of the regression coefficients. D) the suspected break data is known.
A firm producing cans buys three tons of aluminum per day at $200 per ton. If it buys four tons per day, it receives a quantity discount on all units and pays only $175 per ton. The marginal cost of the fourth ton per day is
a. $100. b. $175. c. $700. d. $225.