To practice long-run price discrimination, a monopolist must:
A. Be a natural monopoly
B. Charge one price to all buyers
C. Permit the resale of the product by the original buyers
D. Be able to separate buyers into different markets with different price elasticities
D. Be able to separate buyers into different markets with different price elasticities
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If the current account balance shows a surplus, and the capital account also shows a surplus, then the official reserve transactions balance
A) must be positive. B) must be negative. C) must be zero. D) can either be positive, negative, or zero.
Marginal revenue product is increasing as
A. the marginal physical product is increasing, other things equal. B. the amount of time is increasing, other things equal. C. the revenue from sales decreases, other things equal. D. the revenue from one more unit produced falls, other things equal.
Assume the economy is experiencing an inflationary gap, classical economists believe that: a. flexible wages will restore full employment
b. the federal government should decrease spending to shift the aggregate demand curve leftward. c. the Federal Reserve should lower the interest rate. d. the federal government should increase spending to shift the aggregate demand curve rightward.
What particular characteristic do public goods and common resources have in common?