Economic inefficiency of a monopoly occurs because
A) P = ATCmin.
B) P > MR.
C) P > MC.
D) MR = MC.
Answer: C
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The financial deregulation and financial innovations of the 1970s and 1980s
A) stabilized money demand. B) stabilized velocity. C) destabilized velocity. D) A and C.
John and Miguel are fishermen. When they go fishing, John consistently catches 2 or 3 fish per hour, while Miguel consistently catches 5 or 6 fish per hour. Miguel's __________ exceeds that of John
Fill in the blank(s) with correct word
According to supply-side economists, lowering corporate income taxes:
A. results in wage hikes for employees but no economic growth. B. moves society toward greater income equality. C. checks the expansion of real GDP and employment. D. stimulates investment and economic growth.
Refer to the information provided in Table 31.2 below to answer the question(s) that follow.Table 31.2PeriodQuantity of Labor (L)Quantity of Capital (K)Total Output (Y)1 50 50 2002 50 60 2153 50 70 2254 50 80 230Refer to Table 31.2. When moving from Period 1 to Period 4, output per capital
A. increases. B. decreases. C. does not change. D. first increases, then decreases.