A price-discriminating monopolist will produce an output:
A. above that of a normal monopolist.
B. below that of a normal monopolist.
C. the same as that of a normal monopolist.
D. above that of a competitive market.
Answer: A
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Refer to the scenario above. Which of the following will happen if she keeps the dress for herself?
A) The GDP of her country will increase by $180. B) The trade deficit of her country will decrease. C) The GDP of her country will remain unchanged. D) The trade surplus of her country will decrease.
Explain why the competitive output maximizes welfare
What will be an ideal response?
Ceteris paribus, the price level will decrease if the aggregate
A. Supply curve shifts to the left. B. Supply and demand curves both shift to the right. C. Demand curve shifts to the left. D. Demand curve shifts to the right.
Refer to the above table. Real GDP in 2019 is
A. 682.9. B. 700. C. 717.5. D. 146.4.