A monopolist
a. has a supply curve that is upward-sloping, just like a competitive firm.
b. does not have a supply curve because the monopolist sets its price at the same time it chooses the quantity to supply.
c. has a horizontal supply curve, just like a competitive firm.
d. does not have a supply curve because marginal revenue exceeds the price it charges for its products.
b
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Which of the following is the largest source of revenue for the U.S. federal government?
A) sales taxes B) the individual income tax C) social insurance taxes D) property taxes
Refer to Figure 24-2. Ceteris paribus, an increase in the expected future price level would be represented by a movement from
A) SRAS1 to SRAS2. B) SRAS2 to SRAS1. C) point A to point B. D) point B to point A.
A current account deficit implies that
A) the country is a net lender with the rest of the world. B) the country is running a net capital account surplus. C) foreign investment in domestic securities is at very low levels. D) All of the above.
The mangers of Happy Campers and Camp with Us are engaged in a strategic interaction in which their interests are aligned, but there is more than one possible equilibrium. All of the following can help the managers determine the equilibrium outcome except which one?
A) an announcement made by either firm regarding their future plans B) the Pareto criterion C) bargaining D) a focal point