To sell one more unit of a good, a monopolist must
A) lower the price on the last unit only.
B) lower the price on all units.
C) raise the price only on the last unit sold.
D) raise the prices on all goods.
B
You might also like to view...
One way that government can increase the production of goods that have external benefits is to
A) tax the activity. B) subsidize the activity. C) use marketable permits. D) Both answers B and C are correct.
If whole tomatoes were money, which of the following functions of money would be the hardest for tomatoes to satisfy?
A) medium of exchange B) store of value C) certificate of gold D) unit of account
Most economists estimate that the U.S. factor of production most likely to be hurt by the formation of the NAFTA is unskilled U.S. labor
Indicate whether the statement is true or false
If fractional reserve banking exists, then:
A. banks need only keep a portion of each deposit on hand. B. the money multiplier is equal to 1. C. money cannot be created in the economy through banks. D. lending would be curtailed to nearly zero.