In a monopoly, producer surplus is
A) larger than under perfect competition.
B) is equal to that under perfect competition.
C) smaller than under perfect competition.
D) None of these choices is true.
A
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The optimal output of a collective consumption good is found by_____
a. equaling marginal cost and the vertical summation of all individual's demand curves b. equaling price and marginal cost c. equaling marginal cost and the horizontal summation of all individual's demand curves d. equaling marginal cost and long-run average total cost
Which of the following constitutes a currency drain from the banking system?
a. Purchase of government securities b. New demand deposits c. Banks lending out all excess reserves d. A banking panic that leads to large withdrawals from banks e. Lower required reserve holdings