A monopolist has no supply curve because
a. as demand changes, each output level can be consistent with more than one profit-maximizing price
b. monopolists tend to restrict output
c. monopolists have no marginal cost curve
d. monopolists can charge any price they want
e. as demand changes, the firm's profit-maximizing choice of output may change
A
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The magnitude of the tax multiplier is ________ the magnitude of the government expenditure multiplier
A) greater than B) equal to C) smaller than D) the inverse of E) exactly one half
If one were to consider a university as a business, the computers in the computer labs would be regarded by economists as
a. technology flows. b. mechanization flows. c. part of the university's stock of capital. d. a flow of services from the university's stock of capital.
A consultant predicts that there is a 25% chance of earning $500,000 and a 75% chance of earning $100,000. The expected profit is $200,000. The standard deviation is
What will be an ideal response?
The more homogeneous are consumers' preferences, the less product variety will be observed.
Answer the following statement true (T) or false (F)