For a monopolist
A. marginal revenue equals average revenue.
B. marginal revenue is greater than price.
C. marginal revenue equals price.
D. marginal revenue is less than price.
Answer: D
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Since 1990, recovery from all three recessions could be called _________________ recoveries generating a larger increase in national debt than previous recessions.
Fill in the blank(s) with the appropriate word(s).
Under a pure flexible exchange rate system, the rate that equates demand and supply in the exchange rate market will also lead to a balance of
a. merchandise exports and merchandise imports. b. current account transactions. c. capital account transactions. d. current and capital account transactions.
When a company engages in a substantial amount of image advertising, they are trying to cause consumers to see their product as being unique and distinctive relative to the substitute products made by rival firms. The companies are thus trying to use successful image advertising to:
a. reduce the price elasticity of demand for their products. b. increase the price elasticity of demand for their products. c. increase the price elasticity of supply of their goods. d. reduce the price elasticity of supply of their goods.
The land of Ur increases its capital stock. As a result, the long-run aggregate supply curve shifts ________ and so does the ________ curve.
What will be an ideal response?