The Fed does not have to go through the normal congressional appropriations process because
A) its expenses are very small.
B) it was given enough funds at the time of its founding to provide for its expenses indefinitely.
C) it is self financing.
D) it is not part of the legislative branch of the federal government.
C
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Suppose the demand for pizza in a small isolated town is p = 10 - Q. The only two firms, A and B, behave as Cournot duopolists. Each has a cost function TC = 2 + Q. If the government wants to subsidize firm A to raise its output to that of a Stackelberg leader, how large should the subsidy be?
What will be an ideal response?
A monopolist maximizes profits by
a. producing an output level where marginal revenue equals marginal cost. b. charging a price equal to marginal revenue and marginal cost. c. charging a price where marginal cost equals average total cost. d. Both a and b are correct.