If a certain market were a monopoly, then the monopolist would maximize its profit by producing 4,000 units of output. If, instead, that market were a duopoly, then which of the following outcomes would be most likely if the duopolists successfully collude?
a. Each duopolist produces 4,000 units of output.
b. Each duopolist produces 1,500 units of output.
c. One duopolist produces 2,400 units of output and the other produces 1,600 units of output.
d. One duopolist produces 3,000 units of output and the other produces 1,500 units of output.
c
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The precautionary demand for money is when people hold money
A) as a medium of exchange. B) for the interest it yields. C) to meet unplanned expenditures. D) as a store of value.
A $1 increase in high-powered money raises the quantity of deposits until
A) all of that increase in high-powered money is held as required reserves. B) required reserves fall back down to zero. C) required reserves rise back up to zero. D) deposits rise by $1. E) GDP rises by $1 times the income-determination multiplier.
Smithson Pottery is considered a regular exporter because the firm fills unsolicited orders from foreign buyers and passively investigates international trade options.
a. true b. false
In the above table, the optimal quantity of clean air is
A. 0 percent. B. 25 percent. C. 50 percent. D. 75 percent.