Why is there a supply point and not a supply curve for a monopolist?
a. A monopolist cannot affect the market price by changing its supply.
b. A monopolist produces a homogeneous product having similar substitutes.
c. A monopolist equates the price which it charges with its marginal cost.
d. There is only one quantity and price at which a monopolist operates.
e. A monopolist supplies to a large number of consumers.
d
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A problem with pollution charges or taxes as a solution to pollution is that
A) people don't want the government to regulate industry. B) the necessary information about the polluting industry is costly and usually unavailable. C) taxes are already too high. D) pollution would still continue. E) the producers do not want the property right to their pollution.
The idea that business fluctuations are primarily caused by factors affecting aggregate supply rather than aggregate demand is a central tenet of:
A. Efficiency wage theory B. Real-business-cycle theory C. Mainstream economics D. Monetarism