If marginal cost exceeds marginal revenue, a profit-maximizing monopolist will:
a. restrict output to increase the price even higher.
b. raise price and expand output to increase profit.
c. lower price and expand output to increase profit.
d. attempt to maintain this position because it is consistent with profit maximization.
a
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During the early 1920s, Germany experienced
A) negative inflation as a result of high money creation. B) hyperinflation as a result of high money creation. C) moderate price changes as a result of a recession. D) hyperinflation as a result of rapidly increasing demand for money. E) hyperinflation as a result of low money creation.
Which of the following is not considered a major player in the financial system?
A. Banks B. Savers C. Labor unions. D. Businesses
The more firms an oligopoly has,
a. the more likely it is to earn monopoly profits. b. the higher the price of the product. c. the farther the equilibrium quantity will be from the socially efficient quantity. d. the more likely the firms will charge a price close to the perfectly competitive price.
The Internet was first developed in the
A. business sector. B. government sector. C. corporate sector. D. college dorm room of Bill Gates.