If there are strong economies of scale and scope, then society
a. will not be able to prevent overt collusion.
b. will benefit from establishing a cartel.
c. cannot benefit from regulation of a natural monopoly.
d. will not be able to preserve free competition.
d
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Use the figure below to answer the following question. The equilibrium point in the market is the point at which the S and D curves intersect.
Assuming equilibrium price P1, producer surplus is represented by areas
A. a + b. B. a + c. C. a + b + c + d. D. c + d.
Which region in the New World received the largest share of slaves?
a. Brazil b. Colonial America c. Cuba d. Canada
At prices above a consumer's reservation price:
A. the opportunity cost is less than the benefit from having the good. B. the buyer will purchase the good. C. the opportunity cost is greater than the benefit from having the good. D. the willingness to pay is greater than the price.
If a bank has $1 million in demand deposits, $350,000 in reserves, and faces a 30 percent reserve requirement, the amount of money that a bank could initially create by loaning out their excess reserves is: a. $50,000
b. $300,000. c. $350,000. d. $700,000.