___________ was an ideal supplement to rice farming in the colonies
a. Indigo
b. Tobacco
c. Wheat
d. Ship building.
a. Indigo
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A monopolist earning short-run economic profit determines that at its present level of output, marginal revenue is $23 and marginal cost is $30 . Which of the following should the firm do to increase profit?
a. Raise price and lower output. b. Lower price and lower output. c. Raise price and raise output. d. Lower price and raise output. e. Lower output but leave price unchanged.
Which of the following would shift the demand curve for autos to the right?
a. A fall in the price of autos. b. A fall in the price of auto insurance. c. A fall in consumers' incomes. d. A fall in the price of steel.
A firm facing a horizontal demand curve
a. cannot affect the price it receives for its output. b. always produces at an output at which P = MR. c. faces perfectly elastic demand for its product. d. All of the above are correct.
Since 2002, the Fed has set the primary discount rate above the IOER rate. Why is this likely to prevent the spikes in the market federal funds similar to the ones that occurred in previous years?
What will be an ideal response?