Which of the following explains why the MC curve is rising in area b?
a. MP in area b is falling.
b. MC in area a is falling.
c. MP rises with output.
d. MC rises with output.
a. MP in area b is falling.
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The existence of many discouraged workers in an economy may cause us to
a. overstate the employment rate b. understate the employment rate c. overstated the unemployment rate d. understate the unemployment rate e. overstate the value of GDP
Which of the following is an example of human capital?
a. Machines built by people. b. Formal education acquired in schools. c. On-the-job training. d. Both b and c are correct.
The figure below shows the market for MP3 players in a small country. Dd and Sd are the domestic demand and domestic supply curves of the MP3 players. QQ is the quota quantity. The quota on MP3 players will cause domestic consumers to
A. lose $195 million. B. gain $25 million. C. lose $25 million. D. lose $170 million.
The given nondiscriminating monopolist should set its price at:
A. $300.
B. $250.
C. $200.
D. $150.