Losses are always minimized when _________ equals _________.
Fill in the blank(s) with the appropriate word(s).
marginal cost; marginal revenue
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Compared to a single-price monopoly, when a monopoly can perfectly price discriminate, the deadweight loss
A) increases. B) decreases. C) remains the same. D) becomes infinite. E) probably changes, but more information is needed to determine if it increases, decreases, or remains constant.
To be binding, a price floor must be set above the equilibrium price
a. True b. False Indicate whether the statement is true or false
If the wage rate were $50, how many workers would be hired?
A. 1
B. 2
C. 3
D. 5
More detailed financial instruments tend to be:
A. more costly because it will cost more to create. B. less costly because they can be standardized more easily. C. more desirable than less detailed ones, no matter what the price. D. less costly because all possible contingencies are covered.