Which of the following statements is true of the demand curve and the marginal revenue curve of a monopolist?
A) Both curves have the same intercept on the price axis.
B) The demand curve is downward sloping while the marginal revenue curve is upward sloping.
C) The intercept of the demand curve on the price axis is higher than the intercept of the marginal revenue curve.
D) The intercept of the demand curve on the price axis is lower than the intercept of the marginal revenue curve.
A
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Suppose the market for Blu-rays has the demand and supply schedules shown in the table above. Suppose a decrease in the price of a Blu-ray player increases the quantity of disks demanded at each price by 20 million
What are the new equilibrium price and equilibrium quantity of Blu-rays?
Discretionary monetary policy was more frequently employed than discretionary fiscal policy in the two decades following World War II because
A) economic conditions did not seem to require any use of fiscal policy tools during this period. B) economists did not yet believe in the effectiveness of fiscal policy. C) inflation was not yet seen as a problem. D) monetary policy could be altered without Congressional action. E) monetary policy was thought to be capable of raising output while holding down prices.