When a firm has monopoly power, it
A) hires fewer workers because its marginal revenue lies below the demand curve.
B) hires more workers because its marginal revenue lies below the demand curve.
C) hires fewer workers because its marginal revenue lies above the demand curve.
D) hires more workers because its marginal revenue lies above the demand curve.
A
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Because of the kind of externalities that tend to be generated from general R&D resources bought by firms, the equilibrium price of R&D
A) is above the optimal level, and quantity is below the optimal level. B) is below the optimal level, and quantity is above the optimal level. C) and quantity of R&D are both above the optimal level. D) and quantity of R&D are both below the optimal level. E) must fall in order for the market to reach equilibrium.
Firms in an oligopoly market can potentially earn economic profits: a)in the short run, but not the long run
a. In the short run, but not the long run. ?b. In the long run, but not the short run. ?c. In both the short run and long run ?d. In neither the short run nor the long run
In a progressive income tax system
A. the average tax rate exceeds the marginal tax rate. B. the marginal tax rate exceeds the average tax rate. C. the tax rate depends solely on how long an individual has been in the labor force. D. high income earners pay a lower percentage of their income in taxes than do low income earners.
Which of the following shifts the demand curve for movie downloads rightward?
A) a decrease in the price of downloading a movie B) a 10 percent increase in people's income if movie downloads are a normal good C) a decrease in the price of cable television service D) an increase in the quantity and quality of programming included in the basic cable television service package