The effort used to coordinate the factors of production is a description of:
A. physical capital.
B. human capital.
C. labor.
D. entrepreneurship.
Answer: D
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A profit maximizing monopolist always chooses to operate at the output level where
A. P = MR = MC. B. MR = MC = AC. C. P > MR = MC. D. P < MC = MR.
If neither the demand nor supply of a good is perfectly elastic or inelastic, a tax on the good ________ consumer surplus and ________ producer surplus
A) decreases; decreases B) increases; increases C) decreases; increases D) increases; decreases E) decreases; does not change
Following adjustments to a new equilibrium in a market, the equilibrium quantity remains unchanged, but the market clearing price is now lower. Which of the following could definitely have caused this outcome?
A. Demand decreased, and supply increased. B. Demand and supply both increased. C. Demand increased, and supply decreased. D. Demand and supply both decreased.
If you own a bond with a 3 percent coupon rate and new bonds are paying 8 percent, what will happen to your bond's market price?
What will be an ideal response?