According to the above figure, the profit-maximizing price for the monopolist is
A. A.
B. B.
C. C.
D. D.
Answer: A
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A steady-state equilibrium refers to:
A) an equilibrium in which the stock of physical capital remains constant over time. B) an equilibrium in which the inequality remains constant over time. C) an equilibrium in which the GDP per capita remains constant over time. D) an equilibrium in which the poverty rate remains constant over time.
A difference between inventory investment and fixed investment is that
A) fixed investment is never unplanned. B) fixed investment is never planned. C) inventory investment is never unplanned. D) unplanned inventory investment is always zero.
Special-interest programs are highly attractive to vote-seeking politicians because
a. these programs are highly efficient, and therefore, they tend to enhance the general welfare of the populace. b. members of special interest groups favoring these programs are less likely to vote than the taxpayers who pay for them. c. low-income recipients are the primary beneficiaries of special-interest programs. d. members of special interest groups favoring these programs feel strongly about them while most other voters are rationally uninformed about them.
A monopolist faces a downward-sloping demand curve because:
A. the demand for its product is inelastic. B. the industry demand curve is horizontal. C. resource prices increase as the monopolist expands output. D. the entire market demand curve is the monopolist's demand curve.