Refer to the figure above. What is the profit-maximizing quantity that the monopolist should produce if it faces a constant marginal cost of $5?
A) 200 units
B) 300 units
C) 400 units
D) 600 units
A
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In the figure above, the redistribution from the consumers to the producer if the firm is a single-price, unregulated monopoly rather than a perfectly competitive industry is
A) zero. B) $8.00 per day. C) $16.00 per day. D) $32.00 per day.
Refer to Figure 3-7. Assume that the graphs in this figure represent the demand and supply curves for mustard and that bratwurst and mustard are complements. What panel describes what happens in this market when the price of bratwurst falls?
A) Panel (a) B) Panel (b) C) Panel (c) D) Panel (d)
According to the theory of exchange-rate adjustments, a country with a current ________ is likely to experience a currency ________
A) deficit; depreciation B) surplus; depreciation C) deficit; appreciation D) surplus; devaluation
In Moscow in 1989, what were taxi drivers using as a medium of exchange?
A) Russian rubles B) Marlboro cigarettes C) gold coins D) caviar