In order to sell more goods and/or services, what must a monopoly do?
A) reduce price and increase output
B) increase output
C) increase price
D) nothing, since it is the market
A
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The Keynesian consumption function implies that at a given moment persons with high incomes are saving ________ persons with low incomes, a prediction which is ________ by actual cross-section consumption data
A) a lower fraction of income than, confirmed B) a lower fraction of income than, not confirmed C) a higher fraction of income than, confirmed D) a higher fraction of income than, not confirmed E) the same fraction of income as, confirmed
If a firm has a fixed cost of $200,000, and a variable cost of $130,000 at an output of one, how much is marginal cost at an output of one?
A. $70,000 B. $130,000 C. $200,000 D. $270,000
During which decade did the original Phillips curve break down? Also, briefly explain why the original Phillips curve broke during this period
What will be an ideal response?
If the mangers of Big Scoops, a local ice cream parlor, acquire a dairy farm to produce the milk for their ice cream, the managers of Big Scoops are likely to experience all of the following except which one?
A) an increase in their required areas of expertise B) an increase in the complexity of coordination of Big Scoops C) an increase in managerial diseconomies D) the hold-up problem