In Figure 29.1, the area that represents the value to the consumer under monopoly is
A. ABC.
B. OACQPC.
C. PPCAC.
D. OABQMonopoly.
Answer: D
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If a bank receives a $5 million discount loan from the Fed, then the bank's reserves will
A) increase by $5 million. B) increase by more than $5 million. C) increase by less than $5 million. D) not change.
Refer to Figure 15-3. Suppose the monopolist represented in the diagram above produces positive output. What is the price charged at the profit-maximizing/loss-minimizing output level?
A) $38 B) $54 C) $68 D) $75
If there are diseconomies of scale within a given range of output, which of following is (are) TRUE?
A) The short-run average cost curve must be upward sloping within that range of output. B) The long-run average cost curve must be upward sloping within that range of output. C) Long-run average cost must equal short-run average cost. D) All of the above.
________ is (are) paid regardless of a person's income from other sources and regardless of assets.
A. The earned income tax credit B. Unemployment benefits C. Medicaid D. SNAP benefits