Suppose a profit-maximizing monopolist faces a constant marginal cost of $10, produces an output level of 100 units, and charges a price of $50 . The socially efficient level of output is 200 units. Assume that the demand curve and marginal revenue curve are the typical downward-sloping straight lines. The monopoly deadweight loss equals $4,000
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to the figure below. If Cory chooses A, then Jess's best response is: 
A. non-existent. B. to choose A. C. to choose the cell in which Jess's payoff is 10 D. to choose B.
When equilibrium GDP is greater than potential GDP, jobs are plentiful and labor is in great demand.
Answer the following statement true (T) or false (F)
If the price level is fixed, changes in nominal income and changes in real income ______.
a. have an inverse relationship because there are no changes in aggregate supply. b. remain equal because there is no rate of inflation to account for. c. remain equal because aggregate income will neither rise nor fall. d. have an inverse relationship because full employment has been reached.
A monopsonistic employer faces a
A. perfectly inelastic labor supply curve. B. MFC curve that is greater than the wage rate at each quantity of labor. C. MFC curve that is less than the wage rate at each quantity of labor. D. perfectly elastic labor supply curve.