A major difference between a single-price monopolist and a perfectly competitive firm is that the
A) monopolist can maximize profit by setting the price of the output where demand is inelastic.
B) monopolist can always increase its profits by increasing the price of its output.
C) monopolist's marginal revenue is less than price.
D) monopolist is guaranteed to earn an economic profit.
C
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Usually the demand for labor decreases (that is, the demand for labor curve shifts leftward) if the
A) wage rate increases. B) wage rate decreases. C) price of the firm's output rises. D) prices of other factors fall.
What is the interest parity condition?
What will be an ideal response?
The inflation tax is primarily a tax on
A) government bonds. B) Social Security recipients. C) money. D) real income.
The effect of improvements in food-producing technology can be shown graphically by
a. rightward shifts in the supply curve of food b. leftward shifts in the supply curve of food c. rightward shifts in the demand curve for food d. leftward shifts in the demand curve for food e. both leftward shifts in the demand curve for and the supply curve of food