Doctor Green grows cucumbers for home consumption. That activity is:
a. excluded from GDP to avoid double counting
b. excluded from GDP because an intermediate good is involved.
c. excluded from GDP because no market transaction occurs.
d. included in GDP because it reflects production.
c
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Why is the distinction between long run and short run less important in monopoly markets?
What will be an ideal response?
Both the principles of rivalry and mutual excludability apply for club goods
a. True b. False Indicate whether the statement is true or false
A monopoly firm operates with declining marginal cost. If regulators impose marginal cost pricing, the market will
a. remain a monopoly but behave like a perfectly competitive industry. b. become perfectly competitive. c. be entered by additional firms but will not necessarily become perfectly competitive. d. be exited by the existing firm if the regulators will let the firm leave the market.
Investors who purchase shares of stock in a corporation
What will be an ideal response?