Refer to Figure 13-1. Ceteris paribus, a decrease in the price level would be represented by a movement from

Monopolies are inefficient because, at the profit-maximizing output level,

A) MC = MR. B) MC does not equal MR. C) MB = MC. D) MB does not equal MC. E) P = ATC.

Political incumbents often gain or lose re-election because of a strong or weak economy. Which of the following is an exception to that rule?

A) Al Gore B) George H.W. Bush C) Jimmy Carter D) Herbert Hoover