Suppose the monopolist only sold the goods separately. What price will the monopolist charge for Good 2 to maximize revenues for good 2?
a. $2,300
b. $2,800
c. $1,200
d. $1,700
c
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If the production of a good causes an external cost, then the efficient quantity is
A) equal to the quantity at which the marginal benefit equals marginal cost. B) less than the quantity at which the marginal benefit equals the marginal cost. C) more than the quantity at which the marginal benefit equals the marginal cost. D) the quantity at which the marginal private benefit is greater than the marginal social benefit. E) None of the above answers is correct.
In the above, a positive relationship between price and quantity is shown in
A) Figure A. B) Figure B. C) both Figure A and Figure B. D) neither Figure A nor Figure B.
If Mason's marginal benefit derived from the consumption of another candy bar is greater than the price of the candy bar,
a. Mason will not purchase any more candy bars. b. Mason will increase his total satisfaction by purchasing the candy bar. c. the opportunity cost of the candy bar is lower than the price. d. Mason will decrease his total utility if he purchases the candy bar.
Libor is best defined as the ________.
A) interest rate of the National Bank of London B) short-term interest rate for dollars held in the Eurodollar market C) interest rate of the European Union D) deposit rate that applies to commercial loans in the European Union