An economy in which output has decreased and prices have decreased would suggest a:
A. decrease in short-run aggregate supply.
B. increase in aggregate demand.
C. increase in short-run aggregate supply.
D. decrease in aggregate demand.
Answer: D
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The monopolist will maximize profits at the output level for which:
A. marginal revenue equals marginal cost. B. price equals marginal cost. C. price equals average total cost. D. marginal revenue equals average total cost.
One reason to expect higher growth under planned socialism
a. material balance planning b. the dictator's use of coercion c. growth based pricing policy d. the dictator worries about consumption e. the dictator can set a high investment rate
When the price of a soft drink from the campus vending machine was? $0.60 per? can, 100 cans were sold each day. After the price increased to? $0.75 per? can, sales dropped to 85 cans per day. Over this? range, the absolute price elasticity of demand for soft drinks was approximately equal to
A) 0.15.
B) 0.60.
C) 0.73.
D) 1.67.
An example of a horizontal integration would be a merger between
a. a newspaper and a television station. b. two grocery store chains. c. Intel and Dell. d. Delta Airlines and American Airlines.