In a monopoly, consumer surplus is
A) larger than under perfect competition.
B) is equal to that under perfect competition.
C) smaller than under perfect competition.
D) None of these choices is true.
C
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Skeeter's Skeeball Castle has seen its business slow down ever since Kerrie's Off-Key Karaoke opened up next door. Since the opening of Kerrie's Off-Key Karaoke, the opportunity cost of playing skeeball at Skeeter's has
A) decreased. B) not changed. C) fallen to zero. D) increased.
According to studies by Goldin and Skoloff (1982) and Craig and Field-Hendry (1993), the female-to-male wage ratio in the early 1800s
a. was higher in the North than in the South. b. is comparable to the ratio in 1860. c. encouraged the adoption and success of the Waltham system. d. was greater than one.
The most commonly used tool of monetary policy in the U.S. is ___________ market operations.
a. open b. closed c. private d. public
If a currency increases in value in response to market forces, this process is known as
a. reflation. b. revaluation. c. appreciation. d. value-added.