Is a single-price monopoly efficient?
A) Yes, because it creates a deadweight loss.
B) No, because it creates a deadweight loss.
C) Yes, because consumers gain and producers lose some of their surpluses.
D) Yes, because consumers lose and producers gain some of their surpluses.
E) Yes, because it produces the quantity at which MR = MC.
B
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The aim of development aid is basically to:
A) eradicate poverty. B) minimize international trade. C) eradicate corruption. D) boost population growth.
Refer to the scenario above. You should use ________ to arrive at a decision
A) backward induction B) forward induction C) mixed strategies D) prisoners' dilemma
What is the main reason for changes in GDP in the short run?
What will be an ideal response?
If prices increase only in the United States, then:
A. the income level of people in the US must rise. B. U.S. goods become relatively less expensive than goods from other countries. C. the prices of foreign goods must rise. D. U.S. goods become relatively more expensive than goods from other countries.