The creation of a monopoly results in gains to
A) producers at no expense to consumers.
B) consumers at no expense to producers.
C) producers at the expense of consumers.
D) consumers at the expense of producers.
C
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Which of the following represents a collective action problem?
A) The battery in Billy's pickup truck has died so he must leave his house 90 minutes earlier than usual to take public transportation to work. B) Sonia cuts down a diseased oak tree in her back yard, eliminating the shade that blocked the afternoon sun from shining through her living room windows. C) Miss Lander's third grade class has to cut short their field trip to Insect World because someone in Mr. Rutherford's fourth grade class accidentally opened the safety door in the bumblebee exhibit. D) Most of the audience cannot hear the dialog at a midnight showing of The Room because the film's most ardent fans insist on shouting with the dialog throughout the entire screening.
If consumers switch away from eating margarine at the same time that the number of margarine suppliers increases, then
a. these two effects cancel each other out and there is no change in the margarine market equilibrium b. the demand curve shifts left and the supply curve shifts right c. there is a margarine price increase d. there is an excess demand for margarine e. the equilibrium quantity of margarine must increase
Describe the automatic stabilizers that are lost to a country that fixes its exchange rate to another currency.
What will be an ideal response?
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