Comparing single-price monopoly to perfect competition, monopoly
A) increases the amount of consumer surplus.
B) has the same amount of consumer surplus.
C) has no consumer surplus.
D) decreases the amount of consumer surplus.
E) decreases the amount of economic profit.
D
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Demand curves slope ________ because as the price increases and other things remain the same, the quantity demanded ________
A) downward; decreases B) downward; increases C) upward; decreases D) upward; increases E) downward; does not change
Which theory emphasizes the significance of new discoveries that can be used by many people at the same time?
A) neoclassical growth theory B) new growth theory C) classical growth theory D) None of the above answers are correct.
Microeconomics is the branch of economics that deals with which of the following topics?
A) The behavior of individual consumers B) Unemployment and interest rates C) The behavior of individual firms and investors D) B and C E) A and C
Which of the following should not be counted in a cost-benefit analysis?
a. direct benefits and costs b. real secondary benefits c. technological secondary costs d. pecuniary benefits e. intangibles