If a Cournot duopolist announced that it will double its output
A) it becomes the leader.
B) the other firm does not view the announcement as credible.
C) the other firm will shut down.
D) the other firm will double output also.
B
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An efficiency wage is ________ and results in ________
A) equal to the equilibrium wage; full employment B) above the equilibrium wage; a surplus of labor C) below the equilibrium wage; a shortage of labor D) above or below the equilibrium wage; a surplus or shortage of labor
Which of the following statements is FALSE?
A. An unregulated, profit-maximizing monopolist will not operate in the inelastic portion of the demand curve. B. The marginal revenue earned by a monopolist will always be less than the product's price. C. For a profit-maximizing monopolist, marginal revenue equals marginal cost. D. Typically there are numerous very close substitutes for the product of a monopolist.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point A to Point B, ________ additional OLED TVs could be produced when the production of LCD TVs is reduced by 30.
A. exactly 20 B. more than 20 C. fewer than 20 D. exactly 90
Refer to the information provided in Figure 6.9 below to answer the question(s) that follow.
Figure 6.9Refer to Figure 6.9. The marginal utility of the third video game rental is
A. 0. B. 4. C. 8. D. 22.