Government regulators might suspect a firm of engaging in predatory pricing if it charges prices that seem to be too __________
Fill in the blank(s) with correct word
low
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Using n to represent price elasticity of demand, a simple monopolist will find that its marginal revenue at any point along its demand curve is equal to price at that point multiplied by
a. (1 - 1/|n|) b. 1/|n| c. |n| d. |n|*MC
If expected inflation were 5%, and the real interest rate was 3%, what sector would be worse off if the actual inflation rate turned out to be 2%
a. Businesses. b. Laborers. c. Both. d. None.
In his 1951 book Social Choice and Individual Values, Arrow's perfect voting system satisfies all of the following properties except
a. unanimity. b. transitivity. c. reflexivity. d. independence of irrelevant alternatives.
The economy is said to be fully employed when there is no:
A. structural unemployment. B. frictional unemployment. C. unemployment. D. cyclical unemployment.