A monopolist's price equals its ________ only when output is zero.
A. marginal cost
B. total revenue
C. total cost
D. marginal revenue
Answer: D
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Which of the following is likely to be a characteristic of a developing economy?
A. The export of only manufactured goods The efficient use of labor B. A high rate of economic growth C. A low rate of growth of population D. A high rate of illiteracy
If firms have more capital, it is ________ for workers
A) harmful B) ineffective C) beneficial D) unimportant
"Medium term notes" have a maturity ranging up to
A) one year. B) two years. C) five years. D) ten years.
The political functions of government differ from the economic functions of government in that
A) the political functions relate to income distribution while the economic functions relate to the way exchange is carried out. B) the political functions are performed at the federal government while the economic functions are at the state and local government levels. C) the political functions involve elections and the court systems while the economic functions involve taxation and transfers. D) the President deals with the economic functions while Congress deals with the political functions.