Explain why the monopolist has no supply curve?
What will be an ideal response?
A supply curve shows the relationship between the price of a product and the quantity that suppliers are willing and able to supply. The monopolist selects its profit-maximizing output by equating marginal revenue to marginal cost and takes the price dictated by the demand curve. Thus, there is no array of prices and quantities supplied.
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The Clayton Act of 1936 outlawed price discrimination that reduced competition
Indicate whether the statement is true or false
Banks considered "too big to fail" were:
A. helped by fiscal policy, but eventually went bankrupt. B. allowed to go bankrupt. C. bailed out through consumer spending. D. bailed out through fiscal policy.
A sudden, unexpected increase in the economy’s prevailing wage level due to a general strike threat would
a) shift the aggregate demand curve out and push equilibrium prices down b) shift the aggregate demand curve in and push equilibrium output down c) shift the short run aggregate supply curve in and push equilibrium prices up d) shift the Phillips Curve in and increase the natural rate of unemployment e) shift the long run aggregate supply curve out and push equilibrium prices down
Recall the Application about the productivity of large infrastructure investments to answer the following question(s). According to the Application, which infrastructure investment in the U.S. contributed to the increased the productivity of agricultural lands between 1870-1890?
A. railroads B. the internet C. the highway systems. D. dams.