Suppose a firm has a monopoly on the sale of a computer game and faces a downward-sloping demand curve. When selling the 50th game, the firm will always receive
a. less marginal revenue on the 50th game than it received on the 49th game.
b. more average revenue on the 50th game than it received on the 49th game.
c. more total revenue on the 50 games than it received on the first 49 games.
d. Both b and c are correct.
a
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A) price skimming B) prestige pricing C) penetration pricing D) predatory pricing
Which of the following statements about modern macroeconomic theory is most accurate?
a. Keynes' ideas help us understand movements in output around its long-run trend, while the Classical model is more useful in explaining the long-run trend itself. b. The classical model helps us understand movements in output around its long-run trend, while the short-run macro model is more useful in explaining the long-run trend itself. c. Both classical and short-run macro models help us understand movements in output around its long-run trend, but neither model is effective at explaining the long-run trend itself. d. Neither the classical nor the short-run macro model helps us understand movements in output around its long-run trend, but both are useful in explaining the long-run trend itself. e. Only the short-run macro model is useful in understanding movements in output around its long-run trend, and in explaining the long-run trend itself.
Over the last century,
A. hours worked have increased as wages have increased. B. hours worked have decreased as wages have increased. C. hours worked have increased as wages have decreased. D. hours worked have decreased as wages have decreased
Life expectancy in the U.S.:
a. is the highest in the world b. is the lowest in the world c. ranks about 100th in the world d. ranks about 40th in the world