Monopolists differ from perfectly competitive firms
A. on the cost and demand sides of the profit equation.
B. on neither the cost nor demand sides of the profit equation.
C. on the cost side of the profit equation alone.
D. on the demand side of the profit equation alone.
Answer: D
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
Refer to the table below. At what price will Country X import 100 units of the product?
Use the following table for Country X to answer the question below. Column 1 of the table is the price of a product. Column 2 is the quantity demanded domestically (Qdd) and Column 3 is the quantity supplied domestically (Qsd).
A. $4.00
B. $3.00
C. $2.00
D. $1.00
Which of the following would not be an external cost associated with gambling?
A. The increase in homelessness associated with casinos B. The increase in crime near casinos C. The cost of security at casinos D. The effects on the gamblers' family
An increase in taxes will increase total planned expenditures for goods and services
Indicate whether the statement is true or false