People who focus on the "competitiveness" of the United States are
A) focusing on the right thing if the United States is to stay a leading economic power.
B) treating the United States as if it is a business firm.
C) also focusing on the importance of education.
D) correctly recognizing that trade is a zero-sum game.
B
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Economics is the study of choices we make among our many wants and desires
a. True b. False Indicate whether the statement is true or false
Exhibit 9-5 Demand and cost data for a monopolist Price Quantity TR MR TC Profit $10 1 10 10 4 9 2 8 8 3 12 7 4 16 6 5 20 5 6 24 4 7 28 3 8 32 2 9 36 1 10 40 By calculating the data provided in Exhibit 9-5, how much is the profit if the firm decides to produce 7 units?
A. 0. B. 24. C. 16. D. 12.
Public goods are characterized by the free-rider problem because
A) no one can be excluded from the benefits of public goods once they are produced. B) public goods are usually things that people really do not want to consume. C) public goods are characterized by the principle of rival consumption. D) public goods can easily be subdivided into small units.
Two-part pricing offers a mechanism whereby the firm can
A) charge two different prices to distinct groups of customers. B) collect two times as much from consumers as a single-price monopoly can. C) capture some or all of the consumer surplus. D) reduce some of its fixed costs.