Which of the following is true for a monopolist but not for a perfectly competitive firm?
a. Marginal revenue is less than price
b. Economic profits could be earned in the long run.
c. Profit maximization occurs at the output level where marginal revenue equals marginal cost.
d. (a) and (b) are true for a monopolist but not for a perfectly competitive firm.
d
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If the CPI rises from 206.7 to 212.7 between two consecutive years, by how much has the cost of living changed between these two years?
A) The cost of living has increased by 6%. B) The cost of living has increased by 12.7%. C) The cost of living has decreased by 6%. D) The cost of living has increased by 2.9%.
Durable, marketable skills that generate higher income are also known as:
A. physical capital. B. investment capital. C. human capital. D. education capital.
Other things the same, as the price level rises, exchange rates
a. and interest rates rise. b. and interest rates fall. c. fall and interest rates rise. d. rise and interest rates fall.
According to new growth theorists, more technological improvements can be brought about by
A. a government policy that encourages increased consumption. B. government policies that lead to increases in human capital. C. the government taking a more active role in regulating industries. D. tougher immigration laws.