For a single-price monopoly, price is
A) greater than marginal revenue.
B) one half of marginal revenue.
C) equal to marginal revenue.
D) unrelated to marginal revenue.
E) always less than average total cost when the firm maximizes its profit.
A
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Use the following given market-for-money diagrams to answer the next question.
The total demand for money is shown by
A. D1. B. D2. C. D3. D. S.
Firms in oligopoly often behave like the prisoners in the prisoners' dilemma, carefully anticipating the moves of their rivals in an uncertain environment
a. True b. False Indicate whether the statement is true or false
The multiplier effect refers to the fact that a change in spending (aggregate demand) will
a. increase the money supply. b. cause prices to rise by some multiple of the initial increase in spending. c. cause nominal output to rise by some multiple of the initial increase in spending. d. reduce prices by some multiple of the increase in spending.
The president of the AFL from the late 1880s until his death in 1924 was
A. Robert Wagner. B. James R. Hoffa. C. Leon Trotsky. D. Samuel Gompers.