Government regulators can achieve efficiency for a natural monopoly by setting a price ceiling equal to the intersection of the demand curve and the:
A. marginal revenue curve.
B. average cost curve.
C. marginal cost curve.
D. average fixed cost curve.
Answer: C
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Making the buying and selling of a good illegal shifts the demand curve ________ and shifts the supply curve ________
A) rightward; rightward B) rightward; leftward C) leftward; rightward D) leftward; leftward
Over the next few years, several newly constructed office blocks will become available at the World Trade Center site. As well, economists expect the New York economy will continue to exhibit modest growth
What is the expected outcome for the office space market in downtown Manhattan? A) Unambiguously higher equilibrium rental rates and quantity B) Unambiguously lower equilibrium rental rates and quantity C) Unambiguously higher rental rates, and equilibrium quantity could be higher or lower D) Unambiguously higher equilibrium quantity, and equilibrium rental rates could be higher or lower
The earliest type of exchange involved _____
a. coins b. barter c. commodity money d. fiduciary money e. fiat money
Suppose the economy is in a recession and the Central bank lowers the monetary policy rate. Then
A. Real GDP and the price level will both decrease. B. Real GDP will increase and the price level will decrease. C. Real GDP will decrease and the price level will increase. D. Real GDP and the price level will both increase.