The price charged by a monopolist is the point on the demand curve that corresponds to the output where marginal revenue equals marginal cost
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
In the circular flow model, there are two types of markets: the ________ market and the ________ market
A) goods; factor B) supply; demand C) households; firms D) producers; consumers E) service; goods
The classicals believed that when savings exceeds investment.
A. demand is reduced and the economy will go into a recession. B. the interest rate will decline and equate savings and investment. C. an increase in supply will encourage higher investment spending. D. if savings is greater than investment unemployment would reduce savings.
The ultimate source of liquidity in a modern industrial economy is the
A) government Treasury. B) central bank. C) capital market. D) liquidity market.
In contrast to the functional finance view, Classical sound finance macroeconomics assumes that individuals:
A. do not adjust their spending to account for future tax payments. B. adjust their spending to account for future incomes. C. do not adjust their spending to account for future incomes. D. adjust their spending to account for future tax payments.