If the demand curve for a single price monopolist always is a downward sloping straight line, then marginal revenue will be
A. a horizontal line.
B. a straight line with a negative slope of one-half the demand curve slope.
C. identical to the demand curve.
D. a straight line with a negative slope of twice the demand curve slope.
Answer: D
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In the above figure, starting at E1, if there is a supply shock that is temporary, the
A) aggregate supply would shift to SRAS1 and LRAS0 would shift to LRAS1. B) aggregate supply would shift to SRAS2 and LRAS0 would shift to LRAS1. C) aggregate supply would shift to SRAS1 and then return to SRAS0. D) aggregate supply would shift to SRAS0 and LRAS1 would shift to LRAS0.
What is one problem with trying to regulate a monopoly's price?
A) The government needs information on the monopoly's marginal cost. B) The government needs information on the price people are willing to pay. C) The government needs to identify which firm is a monopolist. D) Anything that the government does is problematic.
According to employment studies, what is the most productive day of the week?
a. Monday b. Tuesday c. Wednesday d. Thursday
When indirect business taxes are subtracted from GDP we get net national product of a nation
a. True b. False Indicate whether the statement is true or false