Which shifts the aggregate demand to the right?
A. Increase in government purchases
B. Reduction in consumer spending.
C. The selling of government securities by Fed Reserve Bank
D. Downsizing of corporate investment spending
A. Increase in government purchases
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Three firms agree to operate as a monopoly and charge the monopoly price of $50 for their product and (jointly) produce the monopoly quantity of 10,000 units. If the competitive price for the product is $35, under the Clayton Act these three firms face treble damages of ________.
A) $3,000,000 B) $150,000 C) $450,000 D) $1,000,000
In a market for emission permits, firms that emit below their allowed limits
A) will buy even more allowances through a trading system. B) are taxed by the government for the amount of emissions. C) receive a subsidy for the amount of emissions. D) will sell their excess allowances through a trading system.
Total utility can be calculated as the
a. sum of all marginal utilities b. price paid for one unit of a good c. product of all marginal utilities d. total expenditure on all units of a good the consumer buys e. difference between the marginal utilities of the first and last units of a good
The theory of competitive pricing
a. is an imperfect model of market performance. b. is a set of ideal conditions and outcomes. c. is ineffective when large swings in price occur. d. demonstrates the need for subsidies and price ceilings.