Indirect incentive
What will be an ideal response?
(Example- come to our study group to get free pizza, and your grades may improve as well)
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Describe why monetary policy rules are superior to discretionary monetary policy
What will be an ideal response?
The Internet has made it possible to compare lots of prices without incurring a lot of cost. If Internet access is unequally distributed throughout the population, one would expect
A) consumers with Internet access to pay a higher price. B) consumers without Internet access to pay a lower price. C) price discrimination against consumers without Internet access. D) firms to charge the same price to all consumers.
Profit maximization requires that
A) the marginal factor cost of every input equals that input's marginal physical product. B) the marginal factor cost of every input equals that input's marginal revenue product. C) the amount of one input hired divided by the amount of another input hired equals the total costs of the first input hired divided by the total costs of the second input. D) equal amounts of each input are employed.
According to the graph shown, area C represents:
These are the cost and revenue curves associated with a monopolistically competitive firm.
A. producer surplus.
B. consumer surplus.
C. deadweight loss.
D. profits.