The rate of output that maximizes profit for a monopolist can be found where ________
a. average revenue equals marginal cost
b. price equals marginal cost
c. marginal revenue equals marginal cost
d. total revenue is maximized
c
You might also like to view...
To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
The opportunity cost of holding excess reserves is equal to
A) the federal funds rate. B) the federal funds rate minus the discount rate. C) the discount rate. D) none of the above.
Explain why the simple deposit multiplier overstates the true deposit multiplier
What will be an ideal response?
Explain how a bank run can cause a bank to fail?
What will be an ideal response?