In order to be able to price discriminate and maximize profit, a monopolist must be able to do all of the following EXCEPT
A) identify and separate different buyer types.
B) sell a product that cannot be resold.
C) identify competitors.
D) determine the output where marginal revenue equals marginal cost.
C
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For movements along the short-run aggregate supply curve
A) the money wage rate is constant. B) the real wage rate changes. C) potential GDP remains constant. D) All of the above are correct.
From 1982 until 2000, stock prices rose dramatically. As measured by the Standard and Poor's 500 composite, stocks went from under ________ to above ________ during this period.
A. 10,000; 200,000 B. 200; 1,400 C. 1,000; 11,000 D. 400; 5,000
The new monetary policy tool that the Fed began using in 2008 is
A. changing the interest rate paid on reserves. B. putting a tax on all financial transactions. C. imposing a surcharge on credit cards. D. borrowing from China.
Which industry has the highest four-firm concentration ratio?
A) college bookstores B) retail gasoline stations C) cigarettes D) discount department stores