For a monopolist, if marginal revenue is $40, total revenue is
a. increasing
b. decreasing
c. zero
d. positive
e. negative
A
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Suppose two types of consumers buy suits. Consumers of type A will pay $100 for a coat and $50 for pants. Consumers of type B will pay $75 for a coat and $75 for pants. The firm selling suits faces no competition and has a marginal cost of zero. If the firm charges $100 for a suit (which includes both pants and a coat), the firm will sell a suit to:
A. type A consumers. B. type A consumers and type B consumers. C. type B consumers. D. None of the answers are correct.
(Last Word) Because there are so many sources of carbon dioxide, making monitoring difficult and costly, many economists:
A. prefer a carbon tax to cap-and-trade for reducing carbon dioxide emissions. B. prefer cap-and-trade to a carbon tax for reducing carbon dioxide emissions. C. believe that cap-and-trade and a carbon tax are both costly but should be implemented to reduce carbon dioxide emissions. D. believe that neither cap-and-trade nor carbon taxes can effectively reduce carbon dioxide emissions.
Suppose that only one curve shifts. If you observe that the equilibrium price decreased while the equilibrium quantity increased, then the market experienced a(n):
A. decrease in supply. B. increase in demand. C. increase in supply. D. decrease in demand.
The amount of spending on imports depends solely on income.
Answer the following statement true (T) or false (F)