In Figure 24.2, a profit-maximizing monopolist will charge a price of
A. $6.40.
B. $5.50.
C. $4.70.
D. $4.00.
Answer: B
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Which statement is true?
A. Our rate of productivity increase was greater in the 1980s than the 1960s. B. The key to productivity growth is an increasing labor force. C. Rising productivity could come about with the same output from fewer units of input. D. We have a higher growth rate than the Chinese even though they have a higher savings rate.
Consider a course with 40? students, some of whom are confused after the professor explains a concept. The professor? doesn't know whether students are? confused, but will clarify the concept if one student asks a question. A student who asks a questionlong dashand reveals his or her confusionlong dashloses 8 utils. When the professor clarifies the concept in response to a? question, each confused student gets a benefit of 1 util.
Ch 15 Homework. Please Help
Markets that exhibit economies of scale over the entire range of market output
A. Are perfectly competitive. B. Have upward-sloping long-run average total cost curves. C. Are natural monopolies. D. Have downward-sloping short-run average total cost curves.
Which of the following is most likely an action that supports competition?
A. Requiring professionals, such as architects and engineers, to be licensed B. Granting subsidies to farmers based on production levels C. Preventing two dominant firms in the same market from merging D. Using tariffs to restrict the ability of foreign firms to sell products in domestic markets