The monopolist's outcome happens at a:
A. equal quantity that is equal to a perfectly competitive one.
B. higher quantity than the perfectly competitive one.
C. higher price than the perfectly competitive one.
D. lower price than the perfectly competitive one.
Answer: C
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The Resolution Trust Corporation insures bank deposits
Indicate whether the statement is true or false
According to the graph shown, if the market price decreases (all else staying the same):
A. producer surplus would increase.
B. producer surplus would decrease.
C. total surplus would increase.
D. quantity would increase.
The real-balances, interest-rate, and foreign purchases effects all help explain:
A. why the aggregate demand curve is downsloping. B. why the aggregate supply curve is upsloping. C. shifts in the aggregate demand curve. D. shifts in the aggregate supply curve.
Assume that Matt, Joe, and Teresa are the only citizens in a community. A proposed public good has a total cost of $1000. All three citizens will share an equal portion of this cost in taxes. The benefit of the public good is $500 for Matt, $280 for Joe, and $260 for Teresa. In a majority vote, this proposal will most likely be:
A. Accepted; two in favor and one against B. Defeated; two against and one in favor C. Accepted; three in favor and none against D. Defeated; none in favor and three against