The demand curve for a monopoly firm
A) lies below its marginal revenue curve. B) is perfectly inelastic.
C) is the same as the market demand curve. D) is horizontal.
C
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In a set of indifference curves, why do the indifference curves that lie to the right represent higher levels of utility?
What will be an ideal response?
Refer to the scenario above. If the marginal cost of producing the last unit of the good is $40, Nash equilibrium will occur when both firms charge a price of ________
A) $20 B) $40 C) $60 D) $70
Which of these conclusions does the chart of reasons for unemployment support?
a. U.S. unemployment rates are high because no one wants to work the same job for
more than a few years anymore.
b. The only reason U.S. unemployment rates seem high is that the Bureau of Labor
Statistics counts all teenagers as new entrants.
c. Many more people are exiting the U.S. workforce than entering, which is a serious
problem.
d. About 40 percent of the unemployed either have no experience or have not worked
for a while.
Suppose the economy is on the intermediate range of the aggregate supply curve. Which of the following would reduce both real GDP and the price level?
A. a decrease in aggregate supply B. an increase in aggregate supply C. a decrease in aggregate demand D. an increase in aggregate demand