Use the above figure. The profit this monopolist earns is closest to
A) $3,000.
B) $4,800.
C) $1,600.
D) $1,000.
A
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Which of the following is true of regulation?
What will be an ideal response?
Most economists believe that the poor economic performance of countries located in tropical areas is primarily the result of
What will be an ideal response?
The aggregate demand curve will shift rightward when there is:
A. a decrease in government spending. B. a decrease in incomes abroad. C. a tax increase. D. the expectation that future consumer income will rise.
Which of the following is a key difference between firms in a perfectly competitive industry and firms in a monopolistically competitive industry?
a) A monopolistically competitive firm does not face entry from other firms. b) A monopolistically competitive firm does not have the exact same product as other firms. c) A monopolistically competitive firm does not choose a level of output where marginal cost is equal to marginal revenue. d) A monopolistically competitive industry does not have a large number of sellers.