Consider the monopolist depicted in the figure above. When it maximizes its profit, a single-price monopolist sets a price of ________ per unit
A) $4
B) $7
C) $9
D) $11
D
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Explain how our standard of living depends upon our level of real GDP per person, but there might not be a one-to-one relationship between the standard of living and real GDP per person. Give examples of things that can affect one, but not the other
What will be an ideal response?
Suppose there are two parallel highways between two cities with approximately equal traffic. What would you expect to happen if the state began charging tolls to drive on one of those highways?
A. More drivers would drive on the toll road making the non-toll road less congested. B. Traffic would remain evenly divided between the two roads as drivers continuously sought the less-congested route. C. More drivers would drive on the non-toll road, making the toll road less congested. D. Traffic would decrease on both roads.
Supply-side economics concerns itself with the interaction between demand and supply, the price level, and real GDP.
Answer the following statement true (T) or false (F)
Refer to the table. This tax is such that the after-tax distribution of income will be:
A. more equal than the before-tax distribution.
B. less equal than the before-tax distribution.
C. distributed in precisely the same way as the before-tax distribution.
D. less than the before-tax distribution by the same percentage at each income level.