For a monopolist, marginal revenue ________ for all units of output except the first unit.
A. is greater than the price of output
B. is less than the price of output
C. is equal to the price of output
D. may be either greater than or less than the price of output
Answer: B
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How is the equilibrium exchange rate determined?
What will be an ideal response?
The classical framework is based on which of the following assumptions?
A) many firms in the economy B) no single firm can control prices C) in the long-run the quantity of factors supplied must be equal to the quantity of factors demanded D) all of the above E) none of the above
The real interest rate is the:
A. the interest rate charged on a loan in dollar terms. B. market interest rate. C. annual percentage increase in the purchasing power of a financial asset. D. annual percentage increase in the nominal value of a financial asset.
A rightward shift of the Phillips curve implies an increase in both unemployment and inflation.
Answer the following statement true (T) or false (F)