When TR is increasing as a monopolist's output increases
A. MR is negative.
B. MR is positive.
C. MR may be positive or negative.
D. MR = 0.
Answer: B
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Buying a product in one market and reselling it in another market at a higher price is referred to as
A) arbitrage. B) purchasing power parity. C) crowding in. D) barter.
The value of human capital can decrease when:
A. someone forgets how to do something that was valuable in his work. B. the skills someone possesses are no longer needed. C. machines can be taught to do what people used to have to do. D. All of these are examples of a decrease in human capital.
An economy consists of two goods: beef and lamb. Of all the points on this economy’s production possibilities frontier, which one is best in terms of efficiency?
What will be an ideal response?
A contour map illustrates which of the following?
a. the cause-effect relationship between two variables b. the cause-effect relationship between three variables c. the way that three variables are correlated d. the way that one variable affects another, which in turn affects a third variable e. the way that two variables are correlated and in turn cause changes in a third variable