Refer to the table below for a monopolist. If the monopolist perfectly price-discriminated and sold each unit of the product at the maximum price the buyer of that unit would be willing to pay, and if the monopolist sold 4 units, then total profits would be:
The following question is based on the demand and cost data for a pure monopolist given in the table below.
A. $100
B. $900
C. $150
D. $400
D. $400
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Which of the following will happen if a new firm enters in an oligopoly with differentiated products?
A) Market price will fall. B) Market price will rise. C) Existing firms will gain market share. D) Each firm will have an equal market share.
Which of the following is an example of cyclical unemployment?
A. Dora lost her job when the textile factory closed. She does not have skills to work in another industry and has been unemployed for over a year. B. Jim had a job as an engineer, but quit when his wife was transferred to another state. He looked for a month before finding a new job that he liked. C. George is an unskilled worker who mows lawns in the summer, but is unemployed the rest of the year. D. Marsha was laid off from her job with the airline because the recession reduced demand for airline travel. She expects to get her job back when the economy picks up.
A move from J to K represents
A. a change in quantity supplied.
B. no change in supply.
C. an increase in supply.
D. a decrease in supply.
For an unconstrained maximization problem
A. the decision maker seeks to maximize net benefits. B. the decision maker does not take cost into account because there is no constraint. C. the decision maker seeks to maximize total benefits. D. the decision maker does not take the objective function into account because there is no constraint. E. none of the above