Suppose a monopoly's inverse demand curve is P = 100 -Q, it produces a product with a constant marginal cost of 20, and it has no fixed costs
Compared to the consumer surplus if the market were perfectly competitive, consumer surplus is how much less when the monopolist practices perfect price discrimination? A) 3200
B) 1600
C) 800
D) 0
A
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The ________ real GDP, the ________
A) larger; larger the demand for money B) larger; smaller the demand for money C) larger; larger the supply of money D) smaller; larger the demand for money E) larger; smaller the supply of money
In the calculation of the cost of going to college, an economist would always include the cost of room and board.
Answer the following statement true (T) or false (F)
In the graph showing the data for the short-run and long-run Phillips curve from 1979–1987, movement along the short-run Phillips curve is represented by the move from ______.
a. Point D to Point E
b. Point D to Point F
c. Point E to Point F
d. Point F to Point D
NAFTA benefited Canadian consumers because:
a. of higher wages and more travel opportunity. b. of lower wages but also lower taxes. c. of lower prices but lower quality. d. of lower prices and increased variety.