Refer to the table above. What is the total revenue when the monopolist charges a price of $6?
A) $1,550
B) $1,800
C) $2,150
D) $3,200
B
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To reduce moral hazard, a firm may
A) pay workers at a piece rate. B) offer a year-end bonus if firm profits are up. C) offer stock options. D) All of the above.
The more elastic the demand for a good, the _____
a. larger the deadweight loss from a tax b. smaller the deadweight loss from a tax c. more the tax burden on the buyers d. more the tax revenue of the government
Imagine that there are only two nations in the world, the United States and Mexico. If Americans buy more goods made in Mexico, other things constant, the
a. U.S. demand curve for Mexican pesos will shift rightward b. U.S. demand curve for Mexican pesos will shift leftward c. U.S. supply curve of Mexican pesos will shift leftward d. U.S. supply curve of Mexican pesos will shift rightward
Which of the following describes a surplus-enhancing transaction?
A. Your state government imposes a higher minimum wage than the one set by federal law. B. A person pays $10.00 to buy a scoop of ice cream at a baseball game. C. The Federal government taxes the wealthy to pay for programs to help the poor. D. A firm lays off 25 workers in order to cut costs.