According to the fourth Geneva Convention, willful killing, torture, and inhumane treatment are considered to be
a. war crimes.
b. preemptive strikes.
c. normative conflicts.
d. military interventions.
a. war crimes.
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In long-run equilibrium for a single-price monopolist,
A. marginal revenue equals price. B. output is at the level where short-run and long-run marginal costs are the same. C. the plant size is always the one at the bottom of the long-run ATC curve. D. marginal cost equals ATC.
The standard supply/demand framework:
A. can be modified to explain real-world events. B. explains real-world events with no need for modification. C. should not be modified to explain real-world events. D. cannot be modified to explain real-world events.
Which of the following statements is true?
A) If a tax is imposed on a product sold by a monopolist, the monopolist will maximize its profits by producing where marginal revenue equals marginal cost. B) A monopolist will always charge the highest possible price. C) If a tax is imposed on a product sold by a monopolist, the monopolist can increase its price to pass along the entire tax to consumers. D) Because a monopolist faces no competition, the demand for its product is perfectly inelastic.
The market value of a good or service is the:
A. price at which it is bought and sold. B. government's valuation using the CPI. C. price at which producers are willing to sell an output. D. None of these statements is true.