For a monopolist, the market demand curve:
A. is equal to the monopolist's MR curve.
B. is not important, since the monopolist is the only producer.
C. must be horizontal.
D. is also the demand for the monopolist's product.
D. is also the demand for the monopolist's product.
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From 8 P.M. to 10 P.M., Susan can attend a movie, study, or talk with friends. Suppose that Susan decides to go to the movie but thinks that, if she hadn't, she would otherwise have talked with friends
The opportunity cost of attending the movie is A) talking with friends and studying. B) studying. C) talking with friends. D) two hours of time.
While smoking is on the decline in the United States, China is still puffing away madly. That's not because the government is eager to protect its citizens from the hazards of smoking It's because China is eager to protect its own tobacco industry which is a state monopoly. Why did China announce in 2009 that it won't allow foreign companies to build new cigarette factories or enter joint ventures?
A) because China is concerned about the negative effects of smoking B) because China wants to protect the economic profits its state monopoly makes C) because China wants to protect jobs D) because China regulates the tobacco industry
Which of the following efficiency wage models centers on the morale of a firm's workers? The
a. shirking model. b. gift exchange model. c. turnover model. d. None of the above
A perfectly competitive firm in the short run determines its quantity supplied at various prices by using
a. the portion of its marginal cost curve rising above its average total cost curve b. the portion of its marginal cost curve rising above its average variable cost c. its average variable cost curve d. its average total cost curve e. the portion of its average variable cost curve rising above its average fixed cost curve