For a monopolist, marginal revenue is always
A) greater than price.
B) equal to price.
C) equal to zero.
D) less than price.
D
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The the government increases the level of government expenditure. If there is no change in the aggregate supply curve, then aggregate demand will ________, real GDP will ________, and the price level will ________
A) increase; remain the same; increase B) remain the same; increase; increase C) increase; increase; increase D) decrease; increase; increase E) decrease; remain the same; decrease
If the demand and supply curves are described by the following equations P = a - bQ and P = c + dQ, respectively, the equilibrium quantity is Q* = (a - c) / (b + d)
Indicate whether the statement is true or false
Scarcity exists because:
A. new wants continue to develop and willingness to meet them is limited. B. the supply of goods is always less than the demand. C. individuals cannot solve the three central coordination problems. D. governments cannot solve the three central coordination problems.
Refer to the below graphs. Which graph shows the immediate market period for supply?
A. Graph A
B. Graph B
C. Graph C
D. Graph D