A monopolist earns only normal profits in the long run
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following best represents total saving?
A) T - (G + TR) B) (Y - TR) + I C) (Y - C - G - NX) D) (Y + TR - T) + C
Suppose that the wage for drive-thru clerks is $7 an hour at Burger King and $6.50 at McDonald's. The jobs are alike in all other respects. We would expect
a. an increase in the supply of and demand for drive-thru clerks at Burger King b. an increase in the supply and a decrease in the demand for drive-thru clerks at Burger King c. a decrease in the supply of drive-thru clerks at Burger King but no change in demand d. an increase in the supply of drive-thru clerks at Burger King but no change in demand e. a decrease in the supply of and demand for drive-thru clerks at Burger King