Relative to the social optimum, monopoly power tends to lead to
A) underproduction.
B) overproduction.
C) too much leisure.
D) too little leisure.
A
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today the futures price for corn for december delivery in chicago is $3.30/bu and yesterday it was $3.40/bu. today the local cash price is $3.05/bu/ today, the local basis is:
a) $0.35/bu b) -$.035/bu c) $0.25/bu d) -$0.25/bu e) not enough information is provided
Dean should play golf instead of preparing for tomorrow's exam in economics if:
A. he is irrational. B. Dean can play golf for free. C. the economic surplus from playing golf is greater than the economic surplus from studying. D. the benefit of golfing is greater than the benefit of studying.
When collecting data to conduct research, if the sample used includes only observations which have remained in the sample over time, making that sample unrepresentative of the broader population, ________ occurs.
A. survivor bias B. difference-in-differences C. intention to treat D. regression discontinuity
For the monopoly in the above figure, if the firm is currently producing 700 units, which of the following is correct?
A) It could earn higher profits if it produced more units each day. B) It could earn higher profits if it produced fewer units each day. C) It is maximizing its profits. D) It is incurring a loss.