If a monopolist wishes to increase its output and quantity sold
A. it must reduce its price, so its marginal revenue is greater than its price.
B. it must raise its price, so its marginal revenue is less than its price.
C. it must raise its price, so its marginal revenue is greater than its price.
D. it must reduce its price, so its marginal revenue is less than its price.
Answer: D
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The cost-benefit analysis on the financial impact smokers have on society conducted by Vanderbilt professor Kip Viscusi concludes that
A) smokers provide a net public service to society. B) smokers are a financial drain on society. C) smokers contribute less to retirement and pension programs than they receive from those programs. D) smokers account for about 32 cents of net cost to everyone else in society for every pack of cigarettes smoked.
In the long run, most economists agree that a permanent increase in government spending leads to ________ crowding out of private spending
A) complete B) partial C) no D) more than complete