Total surplus increases under monopoly when compared to perfect competition.
a. true
b. false
Ans: b. false
You might also like to view...
Indifference curve slopes upward from left to right because consumers always prefer more of a good to less
a. True b. False Indicate whether the statement is true or false
The market demand curve is derived by summing individual demand curves horizontally
a. True b. False Indicate whether the statement is true or false
The relationship between money growth rates and inflation between 1982 and 2010 helps explain why, by the 1990s, most economists had
a. adopted the monetarist explanation of inflation. b. adopted a rules-only approach to monetary policy. c. become more convinced of the monetary causes of inflation. d. abandoned monetarism as the primary explanation of inflation.
The Federal personal income tax:
A. Has a regressive structure B. Is actually less progressive than official tax schedules would indicate because of various tax exemptions and deductions C. Has become extremely progressive as a result of taxpayers' being pushed into higher tax brackets by higher income levels D. Has experienced substantial increases in rates during the past two years