The figure above shows the demand and cost curves for a single-price monopoly. The firm's economic profit equals
A) $0.
B) $300.
C) $100.
D) $50.
C
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In Figure 5-1 from the text, if the price of pizzas is $8: a. how many pizzas will the consumer purchase? b. what is the payment for the optimal number of pizzas? c. how much consumer’s surplus will the consumer receive?
What will be an ideal response?
Until the year 2000, the Humphrey-Hawkins Act directed the Fed to pursue all of the following, except
A) maximum employment. B) price stability. C) high economic growth. D) moderate long-term interest rates.
When the amount of sales is large, but each sale has a low value, cheating on a cartel arrangement can significantly increase an individual firm's profits and is thus tempting
a. True b. False Indicate whether the statement is true or false
Market pricing as a kind of automatic signalling system that responds to changes in relative scarcities and rapidly redirects economic activity is part of
What will be an ideal response?