A big problem with fair pricing schemes is that
a. output is lower than if the market were competitive
b. prices are higher than if the market were competitive
c. firms have no incentive to control costs
d. efficiencies result from lack of profit motive
e. the marginal cost may not be very low
C
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Following the initial planning process, the EPA’s ecological risk assessment framework consists of phases that include all of the following EXCEPT
a. problem formulation c. analysis b. dose-response d. risk characterization
Suppose a monopolist can charge different prices to different customers, such as doctors charging different prices depending on whether the patient is insured. How will profits and marginal revenue of such a price-discriminating monopolist compare to profits and MR of an ordinary monopolist who must charge all patients the same fee?
The main reason our gross savings rate rose so quickly between 1993 and 2000 was that _________________.
Fill in the blank(s) with the appropriate word(s).
According to the Taylor rule, the Federal Reserve lowers the real interest rate as the output gap ________ or the inflation rate ________.
A. decreases; increases B. increases; increases C. increases; decreases D. decreases; decreases