The labor-force participation rate equals the percentage of the total adult population that is in the labor force
a. True
b. False
Indicate whether the statement is true or false
True
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Suppose Campus Books, a profit-maximizing firm, is the only supplier of the textbook for a given class. The marginal cost of supplying each book is constant and equal to $10, and Campus Books has no fixed costs. The table below shows the reservation prices of the eight students enrolled in the class.StudentReservation Price($/Book)Q60R54S48T42U36V30W30X30 What price will Campus Books charge if it must charge a single price to all of its customers?
A. $36 B. $24 C. $10 D. $18
What is meant by the term technological spillover?
What will be an ideal response?
The demand curve a monopolist faces
a. is more elastic than a perfectly competitive firm's demand curve b. is the market demand curve c. is as elastic as a perfectly competitive firm's demand curve d. is not affected by the prices of complements e. will not shift in response to a change in consumer tastes
Consider an unregulated monopoly in Figure 13.2. Suppose that a second firm enters the market. As a result, if the demand curve facing each firm lies entirely below the long-run average cost curve:
A. only one of the two firm can makes a positive economic profit. B. both the first and the second firm make positive economic profits. C. neither firm makes a positive economic profit. D. There is not sufficient information.