Selling a good at a price determined by the intersection of the demand curve and the marginal cost curve is consistent with the (i) socially-optimal level of output. (ii) market solution for profit-maximizing competitive firms. (iii) market solution for a profit-maximizing monopoly
a. (i) and (ii) only
b. (ii) and (iii) only
c. (i) and (iii) only
d. (i), (ii), and (iii)
a
You might also like to view...
Disposable personal income:
a. includes personal income taxes. b. excludes personal income taxes. c. excludes transfer payments. d. is income spent for personal items such as homes and cars.
Many economists believe that if fiscal policy turns contractionary to reduce the deficit,
a. monetary policy can turn expansionary to counteract the effects on aggregate demand. b. monetary policy must be contractionary to reinforce the good effects of contractionary fiscal policy. c. foreign investment in the United States must be encouraged. d. taxes on the earnings from stock market gains should be increased.
To a bank, a loan the bank has made to its borrowers is classified as
A) an asset. B) a liability. C) vault cash. D) excess reserves. E) bank capital.
The goods and services sold to foreign buyers are:
A.) Imports. B.) Exports. C.) Income transfers. D.) Externalities.