A single-price monopolist will produce the output at which ________
A) marginal revenue equals marginal cost
B) demand is perfectly inelastic
C) marginal revenue is zero
D) demand is inelastic but not perfectly inelastic
A
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When the European System of Central Banks uses main refinancing operations, it is similar to the Federal Reserve using
A) dynamic open market operations. B) defensive open market operations. C) discount policy. D) reserve requirements.
Suppose k = 0.2. With a $200 billion increase in the money supply, the LM curve shifts
A) to the right by $40 billion. B) to the left by $160 billion. C) to the left by $200 billion. D) to the right by $1000 billion.
The following are obstacles to international investment EXCEPT
A) population growth. B) asymmetric information. C) adverse selection. D) moral hazard.
Assume the government decides to reduce spending in order to reduce the budget deficit, which it financed by borrowing in the real credit market. What is the first round effect on the value of the domestic currency, if there is high mobility in the international capital markets?
a. The value of the currency rises. b. The value of the currency falls. c. The value of the currency is unaffected. d. The change in the value of the currency is ambiguous.