For a monopolist, when the output effect is greater than the price effect, marginal revenue is
a. positive.
b. negative.
c. zero.
d. maximized.
a
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The demand for a monopoly's output is p = 200 - Q. The monopoly's production function is Q = 2L, and the market wage is $4. How many units of labor will the monopolist employ at its profit maximization level of output?
A) L = 49.5 B) L = 4623 C) L = 198 D) L = 10
A price floor set above the equilibrium price is binding
a. True b. False Indicate whether the statement is true or false
Refer to Figure 17.2. Assume the economy is at point E and is constrained by the PPC shown. This economy
A. Can experience long-run growth by moving to point D. B. Can experience long-run growth by moving to point C. C. Can experience a movement to full employment by moving to point A. D. Cannot experience growth because it is constrained by the PPC.
Japan and Korea use or have used many industrial policies, and they are both considered to be countries that have developed successfully. Does that mean that the industrial policies caused their successful development?
What will be an ideal response?