In order to maximize profits, a monopolist should produce where the average revenue is equal to marginal cost
a. True
b. False
Indicate whether the statement is true or false
False
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In 2015, Hooverville consumed 205,000 tons of sugar. In 2016, sugar consumption rose to 245,000 tons. Calculate the percentage change in sugar consumption
A) 8.37% B) 11.95% C) 19.51% D) 26.33%
U.S. manufacturers formed trusts in the late 1880s because
a. booms in the economy made trusts highly profitable and allowed them to expand b. economies of scale allowed larger firms to prosper c. the rapid growth of the railroads allowed firms to reach a wider market d. technological breakthroughs increased capital use and optimal firm size e. they wanted to avoid price wars during depressions
The Federal Reserve conducts monetary policy
Indicate whether the statement is true or false
Measuring poverty using an absolute income scale like the poverty line can be misleading because
a. income measures do not include the value of in-kind transfers. b. money is more highly valued by the rich than by the poor. c. the poor are not likely to participate in the labor market. d. income measures are not adjusted for the effects of labor-market discrimination.