Refer to Table 15-2. What is the profit-maximizing quantity and price for the monopolist?
A) Quantity = 10 cases, Price = $7 B) Quantity = 8 cases, Price = $9
C) Quantity = 7 cases, Price = $10 D) Quantity = 9 cases, Price = $8
C
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The portion of the long-run average cost curve in which economies of scale are experienced shows that as output increases, the
A) average total cost decreases. B) average total cost increases. C) marginal cost increases. D) marginal cost decreases. E) average variable cost is constant and the average fixed cost decreases.
"Tips" published in leading commercial or financial publications are unlikely to lead to profitable trades because
A) only wealthy individuals can buy stocks in the volume necessary to take advantage of tips. B) whatever is gained by trading on the basis of tips will be taxed away by the government. C) the news will already be reflected in the market prices of the assets. D) the news contained in the tips is usually inaccurate.
Which of the following is true with regard to economic growth? a. Small differences in economic growth rates make small differences in Real GDP over time
b. Once a country is richer than other countries, it will remain richer regardless of differences in economic growth rates. c. Economic growth rates tell us nothing about the distribution of output and income in a country. d. All of the above are true.
Using the supply and demand model, what would happen if foreign investors no longer want to loan money to the United States?
a. Interest rates will decrease, and investment will decrease. b. Interest rates will increase, and investment will increase. c. Interest rates will increase, and investment will decrease. d. Interest rates will decrease, and investment will increase.