Which statement is correct?
A. Because of its ability to administer prices, the pure monopolist can increase its price and increase its volume of sales simultaneously.
B. In the short run, the pure monopolist will charge the highest price it can get for its product.
C. Pure monopolists do not always realize economic profits.
D. In the short run, the pure monopolist will maximize total profits by producing at that level of output where the difference between price and average total cost is greatest.
Answer: C
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There is .6 (or 60 percent) chance of managing the brand well and a .4 (or 40 percent) chance of managing the brand poorly. What is the expected total revenue? A) $0.4 billion B) $1.2 billion C) $1.8 billion D) $2.2 billion
A line item budget _____
a. groups expenditures by congressional district b. groups expenditures by the goals they are trying to achieve c. groups expenditures by the types of items that are purchased d. groups expenditures by special interest
The existence of externalities in a market implies that:
a. resources are being used efficiently. b. there is no other allocation of resources that would make society as a whole better off. c. consumers cannot be excluded from consuming the good once it is provided. d. resources are not being used in their highest valued activity. e. the social welfare is maximized.
Trade deficits or trade surpluses can work out well or poorly, depending on whether the corresponding flows of financial capital are wisely invested.
Select whether the statement is true or false. A. True B. False