A copyright gives the owner all of the following exclusive rights except which one?
A) distribution rights
B) adaptation rights
C) public performance rights
D) trade secret rights
D) trade secret rights
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If asked to comment about a new tax on cotton collected from growers who do not grow their plants in the shade of other plants, an economist with no particular expertise in cotton growing might still note that
a. the price received by these cotton producers will fall by the full amount of the tax. b. the price paid by consumers of this cotton will rise by the full amount of the tax. c. the legal incidence of the tax does not determine who bears the burden of the tax. d. the tax was imposed on the wrong party, it should have been placed on buyers.
A monopolist will maximize profit by producing the level of output at which
A. the last unit of output produced adds the same amount to total revenue as to total cost. B. the firm's total revenue exceeds total cost by the largest amount. C. marginal revenue equals marginal cost. D. both a and b E. all of the above
By selecting a bundle where MRS = MRT, the consumer is
A) achieving a corner solution. B) reaching the highest possible indifference curve she can afford. C) not behaving in an optimal way. D) All of the above.
A monopolistic ally competitive firm is producing at a short-run output level where average total cost is $10.00, marginal cost is $5.00, marginal revenue is $6.00, and price is $12.00. In the short run, the firm should:
A. Decrease the level of output B. Increase the level of output C. Make no change in the level of output D. Increase product price