A monopolist hiring labor in a perfectly competitive resource market is faced with a:
a. perfectly elastic demand curve for labor.
b. horizontal marginal factor cost curve.
c. perfectly inelastic demand curve for labor.
d. vertical supply curve of labor.
e. positively sloped marginal factor cost curve.
b
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If a monopolist is maximizing profits, then it is producing an amount of output so that
A) MR = ATC. B) MC = AVC. C) MR = TC. D) MR = MC.
Which of the following does not influence the position of the long-run aggregate supply curve?
a. The quantity of raw materials available for production b. The quantity of capital used in production c. The quality of the labor force d. The actual price level e. The size of the labor force
In finance, leverage:
A. multiplies the effect of gains and losses in financial markets. B. is using borrowed money to pay for investments. C. helps explain why a crash is so damaging after a bubble bursts. D. All of these statements are true.
One fundamental concept in financial economics is that an investment's rate of return is:
A. Positively related to the price paid for it B. Inversely related to the price paid for it C. Inversely related to the riskiness of the investment D. Inversely related to the maturity of the investment