Which of the following is a profit-maximizing condition for a Cournot oligopolist?
A. Q1 = Q2 = ... = Qn.
B. MR = MC.
C. P = MR.
D. All of the statements associated with this question are correct.
Answer: B
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Which group below will generally have a more difficult time finding employment if a nation's minimum wage were increased?
A) Those with more work experience B) Those who are among the younger job seekers C) Those who form the majority race in the population D) All of the above.
Refer to Figure 9.2. At price 0E and quantity Q*, the deadweight loss is
A) 0ACQ*. B) 0ECQ*. C) 0FCQ*. D) EFC. E) none of the above
Darius lent Alejandro $1,000 for one year with the understanding that Alejandro would repay $1,070 . If the actual inflation rate was 7 percent, what was the real rate of interest Darius received?
a. 14 percent b. 7 percent c. 4 percent d. 0 percent e. -7 percent
Today the typical American pays approximately what percent of income in taxes, including all federal, state, and local taxes?
a. 5 percent b. 25 percent c. 35 percent d. 50 percent