The classic example of a private unregulated monopoly is:
A. Coca Cola
B. Wham-O (Frisbee)
C. General Motors
D. General Electric
B. Wham-O (Frisbee)
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Consider the following characteristics:
a. low transactions costs b. small levels of pollution c. high levels of pollution d. clear assignment of property rights Which of the above are assumptions behind the Coase Theorem? A) a, b, and d B) a, c, and d C) a and d D) a only
Macroeconomics includes the study of:
A. individual choice. B. firm pricing policies. C. the relative prices of oil and coal. D. inflation.
The fraction, or percentage, of total income which is saved is called the:
a. Marginal propensity to save b. Disposable income schedule c. Saving schedule d. Average propensity to save
Refer to the information provided in Figure 13.11 below to answer the question(s) that follow.
Figure 13.11Refer to Figure 13.11. Suppose a monopolist faces the demand and costs in the figure and is able to perfectly price discriminate. How much profit does the monopolist earn?
A. $0 B. $16,000 C. $32,000 D. Indeterminate from the given information.