The unregulated, single-price monopolist illustrated in the figure above has a total revenue of
A) $8.00 per day.
B) $16.00 per day.
C) $36.00 per day.
D) $40.00 per day.
D
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The opportunity cost of more consumption of goods today is
A) lower consumption of goods in the future. B) fewer capital goods in the future. C) more capital goods today. D) more unemployment both today and in the future.
An example of human capital is:
A. plumbing skills. B. a wrench. C. a manual on how to install a sink. D. a wedding dress.
Economic production has fallen to less than full potential due to inadequate incentives for firms to produce. The duration of this economic condition will likely be:
a. indefinite b. unknown c. long-term d. short-term
Tax shifting is more easily accomplished when all items are subject to taxation.
Answer the following statement true (T) or false (F)