The above figure shows the marginal benefits and marginal costs of a college education. The efficient number of students is
A) 0.
B) 10 million.
C) 15 million.
D) 25 million.
C
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Much of the responsibility for implementing and enforcing equal employment opportunity has been taken over by individuals and the courts
Indicate whether the statement is true or false
A kinked demand curve
a. results from the heavy advertising expense required. b. occurs because, when one seller lowers the price, no one else will do so. c. is a basic characteristic of monopolistic competition markets. d. tends to be inelastic for price decreases and elastic for price increases.
Some environmentalists argue that we should protect the environment as much as possible, regardless of cost. Which of the following is not a likely outcome of pursuing such a course of action?
a. lower levels of nutrition, health care, and housing b. a lower standard of living c. slowing or reversing technological advancement d. the elimination of all pollution
Suppose a lazy monopolist's fixed costs are higher than the fixed costs of an efficient monopolist. In all other respects the monopolists are the same. Which of the following statements about this lazy monopolist is true?
A. It produces fewer goods than the monopolist producing efficiently. B. It charges a higher price than the monopolist producing efficiently. C. It sets price and quantity the same as the monopolist producing efficiently. D. It charges a lower price than the monopolist producing efficiently.