Absent an ability to price discriminate, if a monopoly wants to sell more output, it must
a. raise its price
b. lower its price
c. increase barriers to entry
d. obtain government permission
e. negate its patent protection
B
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During the financial crisis of 2008, the fall in consumer spending:
A. prompted many firms to increase their output. B. allowed many firms to increase investment spending. C. forced many firms to lay off their workers. D. enabled many firms to increase their prices.
Refer to Figure 4-1. If the market price is $2.50, what is the consumer surplus on the first ice cream cone?
A) $0.50 B) $1.00 C) $3.50 D) $9.00
A majority of people in the United States do not have private health insurance.
Indicate whether the statement is true or false
When the Fed increases the money supply, interest rates
A. rise, causing velocity to fall. B. fall, causing velocity to fall. C. rise, causing velocity to rise. D. fall, causing velocity to rise.