Faced with a decrease in the demand for its product, a monopolist will lower prices and maintain output at its previous level if
A) the gain in profit is less than the increase in real wages paid.
B) the gain in profit is less than the decrease in real wages paid.
C) the gain in profit is less than the menu costs.
D) the gain in profit is greater than the increase in menu costs.
D
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Using estimates of past returns, which monthly investment is most likely to result in the largest amount of money at retirement for a person in the early 20s?
A) CDs B) Treasury bills C) stocks D) all of the above will result in a similar amount of money
Which of the following is true about U.S. history prior to the 1950s?
a. The inflation rate remained constant during this period b. Cost-push inflation led to depressions, which were followed by slowly-rising price levels. c. The price level remained constant during this period. d. Major wars resulted in high inflation rates, after which the inflation rate tapered off. e. Major wars resulted in high inflation rates that were usually followed by deflation.