A monopolist faces an average total cost of $6 when it produces 200 units of its product. If it sells the 200 units at $8 per unit, ________
A) the monopolist incurs a loss of $200
B) the monopolist incurs a loss of $400
C) the monopolist makes a profit of $200
D) the monopolist makes a profit of $400
D
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Ball's research showed that the sacrifice ratio
A) was the same for all countries. B) was nearly zero for most countries. C) was about 10 for all countries except the United States, where it was about 2. D) varied considerably across countries.
National wealth includes
a. machinery and equipment. b. buildings. c. land. d. All of these.
If economies participate in the global trade of goods and services, they do not need to participate in international flows of financial payments and investments.
Select whether the statement is true or false. A. True B. False
Suppose that an employer can hire workers with brown hair and workers with blonde hair. Each type of worker has the same productivity. Which of the following is correct if the employer discriminates by hiring only workers with brown hair?
a. The employer will be just as efficient as a nondiscriminating employer. b. The employer will face higher costs than firms that focus only on maximizing profits. c. The employer will immediately go out of business because discrimination is illegal. d. The employer will face union strikes.