Under which of the following conditions would a profit-maximizing monopolist necessarily raise price?
A. If product demand was price-elastic
B. If marginal revenue is positive
C. If marginal revenue was greater than marginal cost
D. If marginal cost was greater than marginal revenue
D. If marginal cost was greater than marginal revenue
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The simplest economic definition of discrimination is
A. prejudice. B. unequal pay for equal work. C. a dislike by one group associating with another group. D. unequal pay for unequal work.
A recent accounting graduate from a major business school is searching for a place to begin his career as an accountant. This individual is
A. structurally unemployed. B. seasonally unemployed. C. frictionally unemployed. D. cyclically unemployed.
Refer to the figure below. Let ?X denote the price elasticity of demand at point X. Which of the following describes the relationship between ?A, ?B and ?C?
A. ?A > ?B > ?C B. ?A > ?C > ?B C. ?B > ?C > ?A D. ?C > ?B > ?A
A ________ is bought at a price below its face value, and the ________ value is repaid at the maturity date
A) coupon bond; discount B) discount bond; discount C) coupon bond; face D) discount bond; face