If a profit-maximizing monopolist finds that marginal cost is increasing and exceeds marginal revenue, it should:
a. increase output and decrease price.
b. increase price and decrease output.
c. decrease both price and output

As a percentage of GDP, health care spending on Medicare and Medicaid is expected to double over the next 40 years unless health care costs begin to grow at a slower rate

Indicate whether the statement is true or false

When using a logarithmic scale to plot output per capita over time, an upward-sloping curve that becomes increasingly steep indicates

A) output per capita is not changing. B) output per capita is growing by a constant amount each year. C) output per capita is growing by a constant percentage each year. D) output per capita is growing by an increasing percentage each year. E) output per capita is not defined.