A property tax is based on the income of the taxpayer, not the value of the property
Indicate whether the statement is true or false
F
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Which of the following statements concerning a monopolist is FALSE?
A) A monopolist will produce at which MR = MC. B) For a monopolist, marginal revenue is less than price. C) A monopolist will charge the highest price at which any individual will purchase the product. D) A monopolist will shut down if price is less than average variable cost.
Economies of scale suggests that as the level of production:
a. decreases, the average cost of producing each individual unit increases. b. increases, the average cost of producing each individual unit increases. c. decreases, the average cost of producing each individual unit declines. d. increases, the average cost of producing each individual unit declines.
If a nation experiences severe drought and real risk-free interest rate rises, then:
a. Aggregate demand rises, and aggregate supply falls. b. Aggregate demand rises, but aggregate supply does not change. c. Aggregate demand and aggregate supply fall. d. Neither aggregate demand nor aggregate supply change. e. None of the above.
A microeconomic analysis shows that in a competitive economy in which labor is homogenous and mobile, the ratio of the prices of the products in equilibrium is inversely proportional to:
a. the ratio of the capital used in production. b. the ratio of the marginal products of labor. c. the geographical region of the country in which the factory is located. d. the strength of bargaining power of the workers.