When the firm is a price maker, at the quantity where profit is maximized,
A. MC>P>MR.
B. MC=MR.
C. MC=P=MR.
D. MC.
Answer: B
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The Federal Reserve makes decisions regarding ________ policy while the Congress makes decisions regarding ________ policy.
A. monetary; fiscal B. fiscal; monetary C. structural; fiscal D. fiscal; structural
In the loanable funds market, which of the following is an example of investment demand?
A) Mark buying rare gold coins B) Scott purchasing a rookie-year baseball card for last year's World Series MVP C) Mary buying stocks for her retirement portfolio D) Brian, owner of Bryan Games, purchasing computers to enhance the production of games E) George purchasing United States savings bonds for his son's college fund
In the figure above, U.S. consumers' ________ from the tariff is ________
A) loss; $176 million B) gain; $64 million C) loss; $80 million D) gain; $128 million
The equilibrium quantity in the above figure is
A) 200 units. B) 300 units. C) 400 units. D) 600 units.