The graph for a monopolist’s profits shows that the firm’s total profit is ______.
a. $100
b. $200
c. $400
d. $600
b. $200
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Suppose that Makemoney Movies produces two new films — The Hulk and The Piano. Makemoney offers theaters the two films together at a single price but will not supply the movies separately. What do economists call this business practice?
a. predatory pricing b. resale price maintenance c. tying d. leverage
Every trading day, a total of roughly a ______ dollars in currency trades hands in the foreign exchange markets.
a. thousand b. million c. billion d. trillion
According to the market clearing model a permanent increase in government purchases causes:
a. a decrease in consumption. b. an increases in real GDP. c. an increases in the real interest rate. d. all of the above.
When Tesla, a U.S. company, purchases Italian-made Pirelli tires for its automobiles, the purchase is
A) both a U.S. and an Italian import. B) a U.S. import and an Italian export. C) a U.S. export and an Italian import. D) neither an export nor an import for either country.