The marginal revenue of a price taker is
a. equal to price.
b. less than price.
c. more than price.
d. unrelated to price.
A
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A single-price monopoly with the same market demand and cost structure as a perfectly competitive market will produce
a. the same output level at the same price as the perfectly competitive market b. less because the monopolist will not produce all units for which marginal revenue exceeds its marginal cost c. less since the monopolist's marginal revenue curve lies below its demand curve d. more because the monopolist will be more efficient e. more because the monopolist's marginal cost curve slopes upward
The scenario in which the dollar plummets in value is called the
a. soft-landing scenario. b. hard-landing scenario. c. fair-trade scenario. d. free-trade scenario. e. cap-and-trade scenario.
People sometimes act differently in different settings. An economist is likely to explain this by saying
A) the benefits and costs of certain behaviors can be different in different settings. B) people are hard to figure out. C) people behave as others behave. D) it is hard to figure out what makes people tick. E) none of the above
Credit cards create:
A. financial liabilities for the issuer once they are used by the holder. B. money for those who use them. C. financial liabilities for those who use them. D. money for those who issue them.