A pure monopolist should never produce in the:
A. elastic segment of its demand curve because it can increase total revenue and reduce total cost by lowering price.
B. inelastic segment of its demand curve because it can increase total revenue and reduce
total cost by increasing price.
C. inelastic segment of its demand curve because it can always increase total revenue by
more than it increases total cost by reducing price.
D. segment of its demand curve where the price elasticity coefficient is greater than one.
Answer: B
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A good is considered to be nonexcludable if
A) your consumption of the good reduces the quantity available for others to consume. B) the producer can keep those who did not pay for the good from consuming the good. C) the producer finds it difficult to keep those who did not pay for the good from consuming the good. D) it is jointly owned by all members of a community.
Which of the following bank assets is the most liquid?
A) consumer loans B) reserves C) state and local government securities D) U.S. government securities
Which of the following statements is true
a. in market equilibrium there are unconsummated value-creating transactions b. in market equilibrium there are unconsummated wealth-destroying transactions c. in market equilibrium there are no unconsummated wealth-creating transactions d. none of the above
In the United States, a "buy American" act was passed in 1933 to create larger markets for domestic goods
a. True b. False Indicate whether the statement is true or false