In a fully contestable market, a monopoly firm's profits are
a. limited to a competitive level
b. negative
c. higher than a competitive market
d. set by a regulatory commission
e. not affected by the firm's costs
A
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The marginal product of a variable input is calculated by dividing total product by the change in the variable input
Indicate whether the statement is true or false
Other things the same, if the Japanese real interest rate were to increase, Japanese net capital outflow
a. and net capital outflow of other countries would rise. b. and net capital outflow of other countries would fall. c. would rise, while net capital outflow of other countries would fall. d. would fall, while net capital outflow of other countries would rise.
The David Company's demand curve for the company's product is P = 2,000 - 20Q, where P = price and Q = the number sold per month.
a) Derive the marginal revenue curve for the firm. b) At what output is the demand for the firm's product price elastic? c) If the firm wants to maximize its dollar sale value, what price should it charge?
Which of the following is an example of an automatic stabilizer?
What will be an ideal response?