Exhibit 8-6 Monopoly
?
When the monopolist is maximizing total profit in Exhibit 8-6, the average total cost of producing that output level is:
A. $4.
B. $6.
C. $7.
D. $8.
Answer: D
You might also like to view...
When drawn against the current real wage, the labor demand curve is
A) upward sloping because the marginal product of labor rises with the quantity of labor employed. B) upward sloping because the marginal product of labor declines with the quantity of labor employed. C) downward sloping because the marginal product of labor rises with the quantity of labor employed. D) downward sloping because the marginal product of labor declines with the quantity of labor employed.
The Sixteenth Amendment to the Constitution in 1913 made it possible for the federal government to tax imports.
Answer the following statement true (T) or false (F)
Refer to the above table. Suppose one country has a per capita real GDP of $1000 and another has a per capita real GDP of $10,000, or ten times larger. If both countries have a growth rate of 5 percent, how much larger will per capita real GDP be in the second country be than the first after 50 years?
A) 8 times larger B) 5 times larger C) 10 times larger D) 4 times larger
The _____ rate is the interest rates charged when a bank lends reserves to another bank
A) federal funds B) discount C) prime D) reserve rate