In a regulated natural monopoly, a marginal cost pricing rule maximizes
A) total costs.
B) producer surplus.
C) economic profit.
D) total surplus.
D
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When the prices of rare coins become volatile, the ________ curve for bonds shifts to the ________, everything else held constant
A) demand; right B) demand; left C) supply; right D) supply; left
In the textbook model of endogenous growth, the production function is modeled as
A) Y = AK. B) Y = C + I + G + NX. C) Y = X. D) Y = S - I.
Economists look at which of the following to get a quick visual expression of income distribution?
a. Gini coefficient. b. IRS records of how much income each household earned. c. supply and demand curves for resources. d. Lorenz curve. e. surveys of business estimates for MRPs.
Suppose that the U.S. trade balance is positive. Hence, when the net export function is added to C+I+G, the slope of the U.S. aggregate expenditures function will become steeper
a. True b. False Indicate whether the statement is true or false