The crisis reflects a major intellectual failure of macroeconomics to understand the macroeconomic importance of
A) financial system.
B) growth.
C) unemployment.
D) inflation.
A
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If both the demand curve and the supply curve shift to the right, we can unambiguously conclude that the
A) market clearing price will increase. B) market clearing price will decrease. C) equilibrium quantity will increase. D) equilibrium quantity will decrease.
Marginal revenue is the change in total revenue from using one more unit of an input in the short run
a. True b. False
Suppose a monopolist can charge different prices to different customers, such as doctors charging different prices depending on whether the patient is insured. How will profits and marginal revenue of such a price-discriminating monopolist compare to profits and MR of an ordinary monopolist who must charge all patients the same fee?
Which of the following would not affect an individual's demand?
A. The costs of inputs B. The individual's income C. The individual's preferences D. Prices of related goods