The demand curve in its home market is P = 200 - Q; the demand curve in its foreign market is P = 160 - 2Q; and its marginal cost is a constant $20 per unit. What is the discriminating monopolist's profit maximizing output in the domestic market?

Which of the following would not appear on a firm's accounting statement?

a. sunk costs b. fixed costs c. explicit costs d. implicit costs e. insurance costs

An increase in aggregate demand will have a smaller long-run effect on real GDP if the: a. aggregate demand curve is flat

b. short-run aggregate supply curve is horizontal. c. economy is well below potential output. d. economy is already at potential output. e. aggregate demand curve is fairly steep.