Which of the following statements is not correct?
a. Part of the deadweight loss associated with monopoly is measured by the monopolist's economic profit.
b. Marginal cost is always less than average total cost in a natural monopoly.
c. Discount coupons available free to the public are a type of price discrimination.
d. Anti-trust laws make it harder for firms to create synergies.
a
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Which of the following is a land resource?
A. an oil drilling rig B. a machine for detecting earthquakes C. natural gas D. a farmer
Decrease in the real interest rate will ________ the expenditure curve:
A) decrease. B) increase. C) not change. D) none of the above.
A family on a trip budgets $800 for restaurant meals and fast food. The price of a fast-food meal is $20 and the family can afford 16 restaurant meals if they don't buy any fast food. How many fast-food meals would the family gain if they gave up one restaurant meal?
a. 1 b. 0.4 c. 2 d. 2.5 e. 5
Cyclical unemployment is caused by
A. business cycle fluctuations. B. technological progress, which causes some industries to expand employment and others to reduce employment. C. reducing international trade barriers, which causes some industries to expand employment and others to reduce employment. D. people entering the labor force to search for jobs.