To maximize its profit, a single-price monopoly produces the quantity at which
A) the difference between marginal revenue and marginal cost is as large as possible.
B) marginal revenue equals marginal cost.
C) average total cost is at its minimum.
D) the marginal cost curve intersects the demand curve.
E) the marginal revenue curve intersects the horizontal axis.
B
Economics
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Suppose the Fed purchases $1 million in bonds in the open market. Explain how the money supply can increase by more than $1 million
What will be an ideal response?
Economics
Suppose a bank has $100,000 in checking account deposits with no excess reserves and the required reserve ratio is 10 percent. If the Federal Reserve raises the required reserve ratio to 12 percent, then the bank will now have excess reserves of
A) $12,000. B) $0. C) -$2,000. D) -$12,000.
Economics