Figure 11-7
For the firm in Figure 11-7, an unregulated monopolist, output falls below the efficient level in the short run by how much?
a.
50
b.
75
c.
35
d.
100
b
You might also like to view...
A tax of a specific absolute sum, say $100, levied on every person or every household is known as a(n)
a. excise tax b. sales tax c. external tax d. duty e. poll tax
Refer to the above table. What is the marginal factor cost when the firm employs the third unit of labor?
A. $62 B. $57 C. $21 D. $25
Suppose the marginal product of labor equals 1/L. If the wage is $1 per unit of labor, what is the short-run effect on the firm's labor demand if the price of output were to double?
A) The firm will demand half as much labor. B) The firm will demand twice as much labor. C) The firm will demand the same quantity of labor. D) There is not enough information to determine.
Which of the following decreases the real interest rate?
A. an increase in the inflation rate, holding the nominal interest rate constant B. a decrease in both the nominal interest rate and the inflation rate by the same percentage points C. an increase in the nominal interest rate, holding the inflation rate constant D. an increase in both the nominal interest rate and the inflation rate by the same percentage points