A university's football stadium is never more than half-full during football games. This indicates
a. the ticket price is above the equilibrium price.
b. the ticket price is below the equilibrium price.
c. the ticket price is at the equilibrium price.
d. nothing about the equilibrium price.
a
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When a monopolist identifies its profit-maximizing quantity of output, how does it decide what price to charge?
A. It charges a price equal to the marginal cost at the profit-maximizing output level. B. It charges a price slightly greater than the marginal cost at the profit-maximizing output level. C. Cannot be determined from information given D. It charges a price less than the marginal cost at the profit-maximizing output level.
The rate of inflation increases when
A) the unemployment rate equals the NAIRU. B) the unemployment rate exceeds the NAIRU. C) the unemployment rate is less than the NAIRU. D) the unemployment rate increases faster than the NAIRU increases.
When markets open up to international trade, we know that consumer surplus will rise
a. True b. False Indicate whether the statement is true or false
When deciding to implement a congestion tax, economists and the government would use the elements of the economic way of thinking to primarily determine:
A. if the tax would be allocated equitably. B. what congestion tax amount should be charged. C. who should be exempt from the tax. D. where to spend the revenue generated.