The monopolist's outcome happens at a:
A. lower price than the perfectly competitive one.
B. higher price than the perfectly competitive one.
C. higher quantity than the perfectly competitive one.
D. equal quantity that is equal to a perfectly competitive one.
B. higher price than the perfectly competitive one.
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Refer to Cournot Problem. The market price for this good will be
a. $10 b. $40 c. $55 d. $70
In the United States during the 1930s, politicians
A) deliberately relied on government spending and taxation even though they knew the depression would continue. B) knew that the depression would eventually subside because of automatic stabilizers. C) did not believe in using government spending and taxation because they feared the consequences of budget deficits. D) relied on government spending and taxation to pull the economy out of the depression.
Which Amendment to the Constitution freed slaves?
a. Thirteenth b. Fourteenth c. Sixteenth d. Eighteenth
The face value of a ticket to the Super Bowl was approximately $1,200 in 2011 . The game is very popular and there are a number of fans who are not able to get tickets to this game. At the same time, many fans claim that prices are too high and that the
NFL should lower the face value of the ticket prices. Would a decrease in ticket prices move the market towards equilibrium? Would it eliminate the shortage of tickets? Why or why not?