Refer to Figure 5-1. The efficient equilibrium quantity is ________ thousand vaccinations
A) 200 B) 400 C) 600 D) > 600
C
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Regulated natural monopolies can obey a marginal cost pricing rule and still make a normal profit by engaging in
A) least cost pricing and average cost pricing. B) price discrimination and two-part tariff pricing. C) zero profit pricing. D) profit-maximizing pricing. E) None of the above answers is correct because a natural monopoly regulated using a marginal cost pricing rule always incurs an economic loss.
Unions first became powerful in the United States in industries dominated by
A) government. B) highly profitable firms. C) large firms. D) small firms.
Refer to the following graph.
Marginal utility is:
A. negative between A and B. B. negative between B and C. C. negative between C and D. D. not negative anywhere along the total utility curve.
The Nasdaq Composite Index:
A. is made of of mainly newer, smaller firms. B. is made of mainly older firms and is heavily weighted by manufacturing. C. is a price-weighted index. D. is made up of over 5000 companies traded on the NYSE.