If duopoly firms that are not colluding were able to successfully collude, then
a. price and quantity would rise.
b. price and quantity would fall.
c. price would rise and quantity would fall.
d. price would fall and quantity would rise.
c
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In the figure above, the total revenue of a perfectly price-discriminating monopolist at the profit-maximizing output is equal to the area of
A) 0aij. B) 0dgh. C) aci. D) obeij.
A production possibilities frontier will be bowed out if
a. there is scarcity b. resources are used efficiently c. production of one good involves an opportunity cost d. resources are not perfectly adaptable to making each good e. technology is improving
Elephant populations in some African countries have started to rise because
a. environmentalists have developed effective educational campaigns. b. the value of ivory has decreased. c. some elephants have been made a private good, and people are allowed to kill elephants on their own property. d. regulations are being enforced more forcefully.
A surplus federal budget in the short run:
a. boosts domestic saving and stimulates aggregate demand. b. dampens aggregate demand but boosts domestic saving. c. reduces national saving and dampens aggregate demand. d. stimulates aggregate demand but reduces national saving.