Table 24.1Monopoly Costs and RevenueQuantityPriceTotal Cost1$500$4002$450$6503$400$9504$350$1,3005$300$1,700In Table 24.1, according to the profit maximization rule, at the profit-maximizing level of output, total cost is
A. $1,200.
B. $950.
C. $900.
D. $650.
Answer: B
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Evidence of discrimination in labor markets
a. applies only to race and gender. b. is conclusively identified by large differences in average wages rates between men and women. c. is difficult to verify by reference to differences in average wage rates. d. is more easily identified on the basis of race than gender.
A French company floating a bond issued in Swiss francs in Switzerland would be selling a foreign bond.
a. true b. false
An industry with a concentration ratio of 50 would have at least _____ firms.
A. 4 B. 5 C. 8 D. 14
_____________ - a term referring to the fact that for many goods, as the level of production increases, the average cost of producing each individual unit declines.
A. Skill B. Specialization C. Economies of scale D. Division of labor