As opposed to GDP, GNP tries to measure
A) the happiness of a nation.
B) the value of all intermediate goods produced in a nation.
C) the economic performance of a nation's citizens regardless of where they happen to be producing.
D) the economic performance of a country's economy regardless of the nationality of the producers.
C
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Which of the following statements is not correct?
a. Part of the deadweight loss associated with monopoly is measured by the monopolist's economic profit. b. Marginal cost is always less than average total cost in a natural monopoly. c. Discount coupons available free to the public are a type of price discrimination. d. Anti-trust laws make it harder for firms to create synergies.
In a monopolistically competitive market, how do we model the firm's slight control over the price that they charge?
A. The demand curve is downward sloping and very elastic. B. The demand curve is downward sloping and very inelastic. C. The ATC is relatively flat. D. The AVC is horizontal.