To maximize total surplus with a monopoly firm, a benevolent social planner would choose the level of output where
a. MR = MC.
b. MR intersects the demand curve.
c. MC intersects the demand curve.
d. MR exceeds MC by the greatest amount.
c
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A monopoly will set price
a. at the highest price along its demand curve. b. equal to the value at which marginal cost intersects the demand curve. c. so that it can sell the quantity at which marginal revenue is equal to marginal cost. d. so that it can sell the quantity at which marginal revenue is equal to zero.
All of the following are part of the "regulation of health insurance" provision of the Patient Protection and Affordable Care Act (ACA) except
A) limits on the size of deductibles and on waiting periods before coverage takes effect have been eliminated. B) lifetime dollar maximums on coverage are prohibited. C) all policies must provide coverage for dependant children up to age 26. D) individuals with pre-existing medical conditions are able to acquire health insurance.
The demand curve depicts quantities demanded that have been gathered as prices have changed over time
a. True b. False Indicate whether the statement is true or false
A marketplace where savers and borrowers can exchange funds directly is called a _____
a. bond market b. financial market c. stock market d. loanable funds market