A monopoly creates no deadweight when it maximizes its profit
Indicate whether the statement is true or false
FALSE
Economics
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If Caterpillar Inc raises the price of earth-moving equipment that it manufactures in Illinois, then the CPI will ________ and the GDP deflator will ________
A) increase; increase B) increase; increase by less than the CPI C) increase; not change D) not change; not change E) not change; increase
Economics
In a Lorenz diagram for income, the line of equality shows
A) the most equitable income distribution. B) how unequally incomes are distributed. C) how much redistribution occurs. D) the income distribution if everyone received the same income.
Economics