Which of the following is true for the monopolist?
a. Marginal revenue is less than the price charged.
b. Economic profit is possible in the long-run.
c. Profit maximizing or loss minimizing occurs when marginal revenue equals marginal cost.
d. All of the above.
e. None of the above.
d
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If the price level falls and the money wage rate does not change, some firms ________ and there is ________
A) shut down; a leftward shift of the aggregate supply curve B) start up; a rightward shift of the aggregate supply curve C) start up; an increase in potential GDP D) shut down; a decrease in the quantity of real GDP supplied E) shut down; a decrease in potential GDP
In the strategic view of bargaining the outcome depends on
a. Who makes the first move b. Who can commit to a position c. Whether or not the other party can make a countermove d. All of the above
A rise in input prices of oil, which affects many or most firms across the economy, can cause the aggregate supply curve to______________.
a. shift b. incline c. decline d. flatten