Which of the following would shift the aggregate demand curve to the right?
A. an increase in interest rates
B. an increase in labor productivity
C. an increase in taxes
D. an increase in government spending
Answer: D
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A natural monopoly owes its existence to
A) control of a key input. B) persistently declining long-run average costs as scale increases. C) patents. D) increasing marginal returns and the ability to obtain quantity discounts from suppliers.
In equilibrium, which of the following conditions is common to both unregulated monopoly and pure competition?
A) P = MR B) AR = ATC C) MR = MC D) MC = P
The short-run supply of land at a specific location is: a. best described by an upward-sloping curve. b. best described by a downward-sloping curve. c. perfectly inelastic
d. perfectly elastic.
If oranges were found to cure cancer,
A) the equilibrium price of apples would likely fall. B) the equilibrium price of oranges would likely increase in the near term. C) the equilibrium quantity of oranges would likely increase. D) All of the above.