Refer to the figure above. What is the profit-maximizing quantity for the monopolist?
A) 300 units
B) 400 units
C) 500 units
D) 550 units
A
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Suppose a market has only one seller and only one buyer of a good in the market. The buyer is willing to pay $50 for the good and the seller is willing to accept $15. The market price of the good is determined at $30
If they trade, the social surplus will be ________. A) $15 B) $35 C) $45 D) $65
If macroeconomics looks at the economy as a whole, it focuses on which of the following?
A. households B. business firms C. unemployed people D. the division of labor
The usual response of the banking system to new government regulations is
A) evasion through whatever means are necessary. B) strict compliance. C) an attempt to circumvent the regulations through financial innovation. D) bankruptcy.
When a transfer price is set higher
a. the buying division will chose to purchase less from the selling division b. the buying division will chose to purchase more from the selling division c. the selling division will chose to purchase less from the buying division d. the selling division will chose to purchase more from the buying division