A monopolist's profit-maximizing level of output occurs where:
a. marginal revenue equals marginal cost.
b. price equals marginal cost.
c. average total cost is at a minimum.
d. price equals average revenue.
a
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The federal budget deficit has been over 30 percent of GDP since the early 1980s
a. True b. False Indicate whether the statement is true or false
The narrowest definition of money is:
A. hard money. B. M1. C. M2. D. L.
In a consumer-oriented economy, the decision to save in order to promote economic growth: a. means a sacrifice of current consumption in order to enhance future consumption. b. must be enforced by high levels of taxation
c. cannot be expected to benefit future generations. d. none of the above.
The amount that producers receive for a good minus their costs of producing it equals
a. quantity supplied. b. supply price. c. deadweight loss. d. producer surplus.