When a monopolist maximizes profit, its marginal cost will
a. be less than its average fixed cost.
b. be less than the price per unit of its product.
c. exceed its marginal revenue.
d. equal its average total cost.
b
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For much of 2001 and 2002, McDonalds faced a(n):
A) decrease in demand. B) increase in demand. C) increase in profits. D) none of the above.
The money supply is controlled by the
A) New York Stock Exchange. B) Federal Reserve System. C) stock of gold in the economy. D) President of the United States.
Incorporating the Phillips curve into the aggregate supply curve
a. lengthens the horizontal segment and shortens the vertical b. lengthens the vertical segment and shortens the horizontal c. creates an upward-sloping segment after the vertical and before the horizontal segments d. creates an upward-sloping segment after the horizontal and before the vertical segments e. creates a downward-sloping segment after the horizontal and before the vertical segments
Spending on R&D among a group of firms is equally likely to increase or to decrease
a. True b. False Indicate whether the statement is true or false