When a monopoly is maximizing its profits,
A) MR > MC.
B) MR < MC.
C) dMR/dQ > dMC/dQ.
D) dMR/dQ < dMC/dQ.
D
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The employment-to-population ratio is
A) the percentage of the working-age population who are employed. B) the percentage of the labour force who are unemployed or employed. C) the percentage of the labour force who are employed. D) the percentage of the working-age population who are unemployed or employed. E) none of the above.
If there is an increase in technology, the long-run aggregate supply curve shifts rightward, but the short-run aggregate supply curve does not shift
Indicate whether the statement is true or false
In a market of monopolistic competition, there will be
a. a kink in the demand curves for the output of the individual sellers. b. product differentiation. c. a substantial substitution effect whenever any one firm changes its price. d. All of these.
The economic system that includes private ownership of most resources and the coordination of economic activity by price signals generated by market forces is
a. capitalism b. socialism c. communism d. mercantilism e. progressivism