Which of the following is likely in a monopolized market?
a. a price that exceeds marginal cost
b. a price that exceeds marginal revenue
c. a welfare loss due to the restriction of output
d. all of the above
d
Economics
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If only a small volume of trading can be absorbed without producing wide price swings, a market is
A) liquid. B) thin. C) broad. D) resilient.
Economics
The "depreciation rate" tells us
A) the interest rate that should be used in present discounted value calculations. B) the rate at which consumers deplete their total wealth in retirement. C) the difference between current and expected income. D) the difference between current and expected profits. E) how much usefulness a machine loses from year to year.
Economics