Monopoly as a market structure leads to
a. prices equal to average cost.
b. quick response to economic change.
c. prices that equal minimum long-run average cost.
d. persistent economic profits.
d
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Fiscal policy consists of
A. changes in exchange rate par values. B. changes in government expenditures and taxes. C. changes in the official settlements balance. D. changes in money supply and interest rates.
For several years, the U.S. unemployment rate has been below the European unemployment rate. Offer a Keynesian explanation for this
What will be an ideal response?
The above figure shows the marginal social benefit and marginal social cost curves of doughnuts in the nation of Kaffenia. What is the marginal social cost to the economy of Kaffenia of producing the 300th dozen doughnuts each day?
A) $10.00 per dozen B) $8.00 per dozen C) $6.00 per dozen D) $4.00 per dozen
The figure above shows the market for umbrellas in Sunville. When the market for umbrellas in Sunville is in equilibrium, what is the consumer surplus?
A) $30 B) $9,000 C) $18,000 D) $16,000