In general, the quantity that maximizes revenue for the monopolist
A) is greater than the quantity that maximizes profit.
B) is less than the quantity that maximizes profit.
C) is the same as the quantity that maximizes profit.
D) is illegal according to anti-trust statutes.
A
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The principle of diminishing returns to capital states that if the amount of labor and other inputs employed is held constant, then the greater the amount of capital in use the
A. the less an additional unit of capital adds to production. B. less is produced. C. the more an additional unit of capital adds to production. D. less production is wasted.
What role do almost all economists agree the central bank has in a financial crisis?
A. Lender of last resort B. Expansionary fiscal policy to reduce herding C. No role D. Contractionary fiscal policy to reduce leverage
A decrease in aggregate demand in the short run will reduce ________.
A. the price level and increase the real domestic output B. the real domestic output and have no effect on the price level C. both real output and the price level D. the price level and have no effect on real domestic output
Refer to the given diagram. The marginal propensity to consume is:
A. .2.
B. .8.
C. .4.
D. .3.