At an output level of 100, a monopolist faces MC = 15 and MR = 17. At output level q = 101, the monopolist's MC = 16 and MR = 15. To maximize profits, the firm
A) should produce 100 units.
B) should produce 101 units.
C) cannot maximize profits.
D) is not a monopoly.
A
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A decrease in the nominal money supply would shift the:
A) aggregate demand curve rightward. B) aggregate demand curve leftward. C) aggregate supply curve rightward. D) aggregate supply curve leftward.
A ________ is a provision that restricts or specifies certain activities that a borrower can engage in
A) residual claimant B) risk hedge C) restrictive barrier D) restrictive covenant
Although U.S. Steel controlled nearly 75 percent of the domestic iron and steel industry, in 1920 the Supreme Court ruled that the firm was not in violation of the Sherman Antitrust Act because there was no evidence of abusive behavior. What antitrust doctrine was the court applying in this case?
a. The rule of reason. b. The per se rule. c. The marginal cost pricing rule. d. The natural monopoly rule.
A monopsonist is
A) a firm with monopoly power in the local area. B) a firm that has a unionized labor force. C) a single seller of an input. D) a single buyer of an input.