For a monopolist, price
A. is greater than marginal revenue.
B. equals marginal revenue at all output levels.
C. is less than marginal revenue.
D. can be greater than or less than marginal revenue.
Answer: A
Economics
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In Figure 6-3(b), as price falls from $15 to $6, total expenditure
A. falls. B. increases. C. remains constant. D. first falls and then increases.
Economics
Automatic stabilizers are provisions in the law which create automatic ________ in government spending or ________ in taxes when real output declines.
A. decreases; decreases B. increases; increases C. increases; decreases D. no change; no change
Economics