If MR > MC, a monopolist should:
A. maintain the same level of production.
B. decrease production.
C. stop producing.
D. increase production.
Answer: D
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In part, the increase in the labor force participation rate in the United States over the last 50 years can be attributed to
A) unsuccessful job seekers becoming discouraged workers. B) technological change in the home increasing the time available for paid employment. C) recessionary periods followed by longer expansionary periods. D) early retirement by men in the labor force. E) the large increase in the men's labor force participation rate overcoming the large decrease in the women's labor force participation rate.
If a typical firm in a perfectly competitive industry is incurring losses, then
A) some firms will enter in the long run, causing market supply to increase and market price to rise increasing profit for all firms. B) some firms will exit in the long run, causing market supply to decrease and market price to fall increasing losses for the remaining firms. C) some firms will exit in the long run, causing market supply to decrease and market price to rise increasing profits for the remaining firms. D) all firms will continue to lose money.
Applying neoclassical theory to the housing market, a higher marginal product of (housing) capital may be caused by ________
A) higher expected household income B) the inability to buy as much housing at a higher price C) an expected increase in the relative price of housing D) a decrease in the cost of building new houses
How much would Nadia be willing to pay for the insurance?
a. $900 b. $1000 c. $1100 d. $1200