When a monopolist maximizes its profit by selling a positive amount:
A. its marginal revenue must equal its marginal cost at that quantity.
B. its marginal revenue must exceed its marginal cost at that quantity.
C. its marginal revenue must be less than its marginal cost at that quantity.
D. its marginal revenue must be equal to zero.
A. its marginal revenue must equal its marginal cost at that quantity.
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In the Romer model. as more labor is devoted to research and development ________
A) there is an immediate decrease in output per capita B) there is an immediate increase in output per capita C) output per capita is unaffected, but the savings rate begins to rise D) output per capita is unaffected, but the savings rate begins to fall
Each point on a production possibilities frontier represents an efficient allocation of resources in an economy at one point in time.
Answer the following statement true (T) or false (F)
The Condorcet voting paradox shows that outcomes based on dictatorial preferences do not always obey the property of transitivity
a. True b. False Indicate whether the statement is true or false
The problem with applying monetary policy to the housing bubble affiliated with the recession of 2007–2008 was that the bubble was recognized______.
a. too late to take action b. so far in advance that the actions taken were excessive c. in time, but no action was taken d. in time, but underestimated