Price discrimination results in _____________ than would be observed under a single-price monopoly
a. higher output and lower costs
b. lower output and higher costs
c. higher output and higher costs
d. lower output and lower costs
a. higher output and lower costs
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If an economy cannot produce more of one good without producing less of another good, this implies that which of the following has been achieved?
A) allocative efficiency B) minimum marginal cost C) PPF efficiency D) production efficiency E) maximum marginal benefit
In the above figure, what is the total tax revenue collected by the government?
A) $20 million B) $40 million C) $200 million D) $400 million
Rare earth metals are used to manufacture some important electronic components in popular products like cell phones. These metals are not really rare, but they are expensive to extract from the ground
What happens to the market for the rare earth metals if these extraction costs increase? A) Demand curve shifts leftward B) Demand curve shifts rightward C) Supply curve shifts leftward D) Supply curve shifts rightward
A reduction in net exports shifts the aggregate
a. demand curve inward. b. demand curve outward. c. supply curve outward. d. supply curve inward.