According to the above figure, the maximum profit the monopolist can receive is
A. $1,500 per day.
B. $7,500 per day.
C. $9,000 per day.
D. 0.
Answer: A
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Which of the following might explain why the government would create a price ceiling for a certain good?
a. The equilibrium price that would result in the market would be considered too high b. The equilibrium price that would result in the market would be considered too low c. The equilibrium quantity that would result in the market would be considered too high d. The equilibrium quantity that would result in the market would be considered too low e. The government never has a reason to create price floors or price ceilings
What is a repeated game? Hoe does this helps the players in a game?
In economics, actions by individuals and interest groups designed to influence public policy in a manner that will either directly or indirectly redistribute more income to themselves are known as
a. logrolling. b. rent seeking. c. influence peddling. d. redistribution searching.
All of the following are true when the economy is growing except
A. Duration of unemployment falls. B. Costs associated with current unemployment fall. C. Underemployment rises. D. Unemployment rate falls.