When a firm practices price discrimination, for each separate set of consumers it will determine the rate of output at which
A) MR > MC.
B) MR = P.
C) MR = AVC.
D) MR = MC.
Answer: D
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In monopolistic competition, there are
A) many firms making a differentiated product. B) a few firms making a differentiated product. C) many firms making an identical product. D) a few firms making an identical product.
According to the above figure, a shortage is shown between which two points?
A) A and E B) C and B C) A and B D) E and F
Which of the following statements accurately describes the situation shown?
a. The U.S. balance of trade on goods and services was positive in 2017.
b. The U.S. balance of trade on goods and services was $552 billion in 2017.
c. The United States had a trade deficit in 2017 on goods and services.
d. The United States had a trade surplus in 2017 on goods and services.
Starting from long-run equilibrium, the long-run impact(s) of an increase in autonomous consumption, compared to the original equilibrium, is:
A. lower inflation and the same output. B. higher inflation and higher output. C. lower inflation and lower output. D. higher inflation and the same output.