The price charged by a monopolist is socially inefficient because the price
A) exceeds the true marginal cost of the resources used.
B) is less than the opportunity cost of the resources used.
C) puts the monopolist into a higher tax bracket.
D) is too low.
A
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In the figure above, Nike's economic profit is ________
A) $3,000 B) $1,800 C) $9,000 D) zero
What is the output level predicted by the Cournot model? Discuss this in terms of the different market models that have been surveyed so far
What will be an ideal response?
A price ceiling set below the equilibrium price is binding
a. True b. False Indicate whether the statement is true or false
An employer whose discrimination coefficient is $4 will:
A. refuse to hire nonpreferred-race workers at any wage rate. B. hire only nonpreferred-race workers if the actual nonpreferred-preferred wage differential is $3 an hour. C. hire only preferred-race workers if the actual nonpreferred-preferred wage differential is $3 an hour. D. hire only preferred-race workers if the nonpreferred-preferred wage differential is $4.