If the marginal costs are constant and zero for a single price monopolist facing the demand curve P = 10 - Q, what will profits be if fixed costs are 12?
A. 12
B. 10
C. 38
D. 13
Answer: D
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Assuming all else equal, if a household is optimistic about future income, it is likely to cause:
A) the current credit supply curve of the household to shift to the left. B) an upward movement along the current credit supply curve of the household. C) the current credit supply curve of the household to shift to the right. D) a downward movement along the current credit supply curve of the household.
There is a negative relationship between two variables if
A) neither variable moves. B) they move in the same direction. C) they move in opposite directions. D) one variable changes and the other does not.
Refer to Figure 4.6, which shows David's and Celeste's individual supply curves for flower arrangements per week. Assuming David and Celeste are the only producers in the market, if the market quantity supplied is 50, the price must be
A) $0. B) $10. C) between $10 and $20. D) $30.
The Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association were established by Congress in order to regulate banks that buy and sell mortgage-backed securities
Indicate whether the statement is true or false