Which of the following governmental actions would eliminate some or all of the inefficiency that results from monopoly pricing? The government could
a. regulate the monopoly.
b. prohibited the monopoly from price discriminating.
c. force the monopoly to operate at a point where its marginal revenue is equal to its marginal cost.
d. None of the above would eliminate any inefficiency associated with a monopoly.
a
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Based on the information in the above table, what is the unemployment rate?
What will be an ideal response?
If a government-imposed price ceiling causes the observed price in a market to be below the equilibrium price
A) there will be excess demand. B) there will be excess supply. C) the curves will shift to make a new equilibrium at the regulated price. D) None of the above.
In general we may note that inflation:
A. doesn't necessarily harm purchasing power. B. always decreases purchasing power. C. always increases purchasing power. D. should try to be avoided at all costs.
According to the textbook, in the book version of The Wonderful Wizard of Oz, Dorothy's slippers are
A) gold. B) silver. C) ruby. D) paper.