Within which of the following ranges of output will the firm earn maximum economic profits?
The following data show the relationship between output, total costs, and total revenue for a pure monopoly.
A. 50 to 60 units
B. 60 to 70 units
C. 70 to 80 units
D. 80 to 90 units
B. 60 to 70 units
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When prices drop in response to a decline in demand for an increasing cost industry:
a. producer surplus will increase but rents may decrease. b. rent earned by elastically supplied inputs will decline by more than rent earned by inelastically supplied inputs. c. rent earned by elastically supplied inputs will decline by less than rent earned by inelastically supplied inputs. d. both producer surplus and rents will increase.
_____ transfer the necessary information within a firm and bind the recipients to take certain actions
a. Contracts b. Decision-makers c. Owners of information d. Orders
An ideal pollution control policy: a. would reduce pollution to zero
b. would reduce pollution to the socially efficient level. c. discourage firms from wasting time developing abatement technologies. d. reduce pollution as quickly as possible, regardless of the cost.
A company borrows money to supplement its current funds and uses it to buy more financial assets. This is what referred to as:
A. leverage. B. herding. C. diversification. D. quantitative easing.