The point of profit maximization for a monopolist is exemplified by
A) TR = TC.
B) MR = MC.
C) ATCmin.
D) MR > MC.
B
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Which of the following occurred following the failure of the Bank of the United States in 1930?
A) Interest rates on low-grade corporate bonds rose relative to high-rated corporate bonds. B) Other banks in New York City suffered liquidity problems. C) A bank panic ensued within days. D) The stock market crashed.
An index number is important only in a relative sense -- in comparison to an index number from another period
a. True b. False
Demand for a "once-in-a-lifetime event" is likely to be
A. perfectly elastic because life is short. B. more elastic than a reoccurring one. C. exactly as elastic as a reoccurring one. D. less elastic than a reoccurring one.
In 2004, the worldwide demand curve for cement moved to the right. What does this mean?
A. At any price, the quantity demanded was lower. B. At the market a given price only, the quantity demanded was higher. C. At any price, the quantity demanded was higher. D. At the market price only, the quantity demanded was lower.