If government regulation sets the maximum price for a natural monopoly equal to its marginal cost, then the natural monopolist will
a. earn economic losses.
b. earn economic profits.
c. earn zero economic profits.
d. produce a lower quantity of output than is socially optimal.
a
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Which of the following formulas is used to calculate the inflation rate?
A) inflation rate = 100 × B) inflation rate = 100 × C) Inflation rate = 100 × D) Inflation rate = 100 × E) inflation rate = 100 ×
Moore's law refers to which of the following?
A) The steady state rate of growth of output per capita will equal the rate of growth of technological progress. B) The number of transistors in a chip would double approximately every 18-24 months. C) The steady state rate of growth of output per effective worker will be zero. D) The saving rate that maximizes steady state consumption is .5 (s = 0.5). E) none of the above