If a monopoly wishes to sell more output, it must:
A. lower the price.
B. find a more cost effective way to produce its goods.
C. be in the economies of scale range of its ATC.
D. eliminate its existing competition.
Answer: A
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In the figure above, originally the apartment rental market is in short-run and long-run equilibrium with a rent of $600 per month. Then the government imposes a rent ceiling of $500 per month
If the law is strictly enforced, the maximum for which an apartment will rent on the black market is A) less than $600 per month. B) $600 per month. C) $700 per month. D) more than $700 per month.
A diagram that shows the maximum amount of one type of good that can be produced in an economy, given the production of the other is known as
A) an indifference curve. B) the tradeoff schedule. C) the production possibility frontier. D) the balance of trade.
________ in the domestic interest rate causes the demand for domestic assets to shift to the right and the domestic currency to ________, everything else held constant
A) An increase; appreciate B) An increase; depreciate C) A decrease; appreciate D) A decrease; depreciate
An individual supply schedule is usually shown on a ______.
a. table b. graph c. pie chart d. Venn diagram