Which of the following would best describe the demand curve faced by a monopoly firm?
A. vertical line at the output level
B. same as the market demand curve
C. same as the perfect competitor's demand curve
D. horizontal line at the market price
Answer: B
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The fastest growing component of the annual federal budgets since 2000 is
A) entitlement payments. B) the education budget. C) funding for NASA. D) funding for health research.
"A firm should continue to hire more workers as long as wages are low." Do you agree or disagree? Why?
What will be an ideal response?
Suppose the United States is experiencing a balance of payments surplus. To prevent the exchange rate from appreciating, the U.S. Treasury must
A) sell dollars and buy foreign currency. B) sell both dollars and foreign currency. C) buy both dollars and foreign currency. D) sell foreign currency and buy dollars.
In a competitive equilibrium, the total consumer surplus must equal the total producer surplus
Indicate whether the statement is true or false