The monopolist
A. is a perfect competitor.
B. has a horizontal demand curve.
C. produces where MC equals MR.
D. None of the choices are correct.
C. produces where MC equals MR.
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The phrase, "Google stock soared Friday, continuing Wall Street's love affair with the company," implies that Google's earnings were much more than it was expected in that quarter
a. True b. False Indicate whether the statement is true or false
If the government decided that each family needs a minimum income of $25,000 and promised to make up the difference between whatever a family earned and $25,000 . which of the following is correct?
a. The government is effectively taxing every dollar earned up to $25,000 at a rate of 100%. b. This program would reduce the incentive to work to earn any wage up to $25,000. c. If workers are discouraged from working due to this program, they will miss any on-the-job training that would have otherwise occurred, limiting their ability to improve their skills. d. All of the above are correct.
In the long run, a firm will choose a plant size that has the
A. minimum average total cost of producing its target level of output. B. maximum level of resource use per unit of output. C. minimum of its average fixed cost. D. capacity to produce the largest quantity of output.
If a country is currently producing at a production point such that the trade line has a slope that is flatter than the slope of the PPC at the same point, then
A) the country can get greater gains from trade if it moves production away from the good on the vertical axis. B) the country can get greater gains from trade if it moves production toward the good on the vertical axis. C) the country cannot improve on its gains from trade. D) There are no gains from trade in this example.