From the point of view of economic efficiency, output in a monopolized market is
a. too high.
b. perfect.
c. too low.
d. undesirable.
c
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Assume that for a particular firm's output price = $80, marginal cost = $30, average total cost = $25. Based on this information, the firm's Lerner Index is equal to:
A) 0.313. B) 0.375. C) 0.6. D) 0.625.
In a world of certainty, the interest rate reflects
A) the degree of risk. B) differing time patterns of individuals' consumption preferences. C) economic growth. D) qualifications of borrowers.
The United States spends much more on health care per capita than other nations do but does not get better health outcomes.
Answer the following statement true (T) or false (F)
The natural rate of unemployment is sometimes taken as the sum of frictional unemployment and structural unemployment.
Answer the following statement true (T) or false (F)