Using the information in the table shown, the marginal revenue for the 4th unit is:
This table represents the revenues faced by a monopolist.
A. higher than that of the 3rd unit.
B. lower than that of the 3rd unit.
C. the same as that of the 3rd unit.
D. That cannot be calculated from the information given.
B. lower than that of the 3rd unit.
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If national saving decreases,
A) the sum of domestic investment and foreign investment must increase. B) the sum of domestic investment and net exports must increase. C) the sum of domestic investment and foreign investment must decrease. D) foreign investment must increase to cover the loss.
Some people like blue jeans that fit tightly, and some prefer blue jeans with some give. These preferences for small differences in the same kind of product create opportunities for _______________ among the companies that produce them.
a. monopolies b. monopolistic competition c. perfect competition d. price fixing
The U.S. experience with tax cuts and tax increases since 1975 suggests that
A. tax cuts always stimulate consumption spending. B. tax changes have a stable and predictable effect on consumption spending. C. temporary tax changes are less effective than permanent changes. D. tax changes have no effect on consumption spending.
In the long run, a year-long drought that destroys most of the summer's wheat crops causes permanently:
A. higher prices. B. lower prices. C. lower output. D. None of these is true.