If a monopoly wants to sell a greater quantity of output, it must
A) lower its price.
B) raise its price.
C) tell consumers to buy more because it's a monopolist.
D) raise its marginal cost.
E) change its fixed costs.
A
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For a single-price monopolist,
A) MR = P. B) MR < P. C) MR first increases and then decreases with the quantity sold. D) MR first decreases and then increases with the quantity sold.
A government policy that prevents the price of a good or service from falling below a specified level is called a price floor and usually results in
a. a shortage. b. a surplus. c. a black market. d. fewer producers of the good or service. e. a decrease in demand.
The fair insurance price is where ____________, where Y is the income that is lower than the income involving the fair insurance
Fill in the blank(s) with the appropriate word(s).
If the Fed sells government securities on the open market, this will cause _____ in the quantity of money available and _____ in the interest rate.
A. an increase; an increase B. a decrease; an increase C. an increase; a decrease D. a decrease; a decrease