What will a home monopolist prefer?
a. high quotas
b. low quotas
c. low tariffs
d. It would like all of these equally; that is, they are equivalent.
Answer: b. low quotas
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Individuals making decisions about how much to purchase of a product with an external benefit base their decisions on which of the following?
A) the price and marginal private benefit B) the economically efficient output C) the price and the marginal social benefit D) the size of the deadweight loss
The Case in Point on trade in water suggests that _____ trade in water appears to be a growth industry.
A) one-way B) interindustry C) two-way D) multilateral
Demand and Cost Data for Sylvie's Shampoo CompanyTable 26.2A Monopolistically Competitive FirmPriceDemand Data QuantityCost Data OutputTotal Cost$2266$96$2077$104$1888$114$1699$126$141010$140Refer to Table 26.2. At the profit-maximizing output and price, Sylvie's Shampoo Company will earn a profit equal to
A. $30. B. $36. C. $144. D. $140.
The above figure shows the marginal social benefit and marginal social cost curves of doughnuts in the nation of Kaffenia. What is the marginal social cost to the economy of Kaffenia of producing the 300th dozen doughnuts each day?
A) $10.00 per dozen B) $8.00 per dozen C) $6.00 per dozen D) $4.00 per dozen