JoJo has a monopoly producing stringless yoyos. His company is called JoJo's Yoyos. As a result of his monopoly position,
A. he is guaranteed a profit.
B. if he loses money in the short run, he will make money in the long run.
C. his average total costs will always be lower than the price he charges.
D. None of the choices are correct.
D. None of the choices are correct.
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If the United States' maximum possible output of any one good is produced, given the output of other goods, we have attained ____________.
Fill in the blank(s) with the appropriate word(s).
Individuals within a group have preferences
a. True b. False
The rights to own private property and to exchange goods with minimal government interference is
A) capital freedom. B) population freedom. C) economic freedom. D) political freedom.
The problem with applying monetary policy to the housing bubble affiliated with the recession of 2007–2008 was that the bubble was recognized______.
a. too late to take action b. so far in advance that the actions taken were excessive c. in time, but no action was taken d. in time, but underestimated