Refer to the table above. Which of the following statements is true of the monopolist's marginal revenue?
A) As the monopolist reduces the price of its product from $9 to $3, the marginal revenue decreases.
B) As the monopolist reduces the price of its product from $9 to $3, the marginal revenue increases.
C) As the monopolist reduces the price of its product from $9 to $3, the marginal revenue first increases then decreases.
D) As the monopolist reduces the price of its product from $9 to $3, the marginal revenue first decreases then increases.
A
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Refer to the figure above. If the monopolist faces a constant marginal cost of $6, what is the optimal quantity that it should produce?
A) 20 units B) 30 units C) 40 units D) 60 units
Refer to Table 2-9. What is Haley's opportunity cost of making a bracelet?
A) 3/4 of a bracelet B) 1 1/3 necklaces C) 2 necklaces D) 3 bracelets
If the marginal propensity to save in a country is 0.4, then the value of the tax multiplier is: a. ?1
b. ?0.5. c. ?2. d. ?1.5.
The original Phillips curve suggests a(n) __________ relationship between the rate of change in __________ and the __________
A) direct; prices; unemployment rate B) inverse; money wage rates; unemployment rate C) inverse; prices; unemployment D) direct; money wage rates; money supply E) inverse; money wage rates; money supply