If a monopolist is producing at the profit-maximizing level of output, what price will it charge?
a. The price given by the marginal-revenue curve at that level of output.
b. The price given by the marginal-cost curve at that level of output.
c. The price given by the average-cost curve at that level of output.
d. The price given by the average-revenue curve at that level of output.
e. The price given by the total revenue curve at that level of output.
d
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To maximize satisfaction, the consumer must reach the lowest indifference curve that can be reached with a given level of income
a. True b. False Indicate whether the statement is true or false
Suppose the economy is initially in long-run equilibrium and aggregate demand rises. In the long run prices
a. and output are higher than in the original long-run equilibrium. b. and output are lower than in the original long-run equilibrium. c. are higher and output is the same as the original long-run equilibrium. d. are the same and output is lower than in the original long-run equilibrium.
A monopolist will set its production at a level where marginal cost is equal to _____.
(A) Total revenue (B) Marginal revenue (C) The equilibrium market price (D) Quantity supplied
The budget deficit
A. is the value of the government’s indebtedness at a moment in time. B. was $13.5 trillion in fiscal 2014. C. is the amount by which the government’s expenditures exceed receipts during a specific time period. D. all of the above are correct.