The figure above shows a monopoly firm's demand curve. At point t
A) demand is elastic.
B) demand is unit elastic.
C) demand is inelastic.
D) total revenue is at a minimum.
B
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What approach to fairness argues in favor of government policies that redistribute income so that there is more equality of income?
What will be an ideal response?
Refer to Table 15-6. Suppose the table above illustrates the values of real and potential GDP and the price level if the Fed does not vote to change their current policy to be more contractionary or expansionary
If the Fed wants to keep real GDP at its potential level in 2017, should the Fed use a contractionary or expansionary policy? Should it raise or lower its interest rate target? How should it conduct open market operations to achieve its goal?
Most of the income of Americans comes from
a. transfer payments. b. the ownership of bonds and physical assets. c. the ownership of bonds and corporate stocks. d. the ownership of human capital.
In the long run, a decrease in the money supply growth rate
a. reduces expected inflation so the long-run Phillips curve shifts left. b. reduces expected inflation so the short-run Phillips curve shifts left. c. Both A and B are correct. d. None of the above is correct.