When a non-discriminating monopolist is maximizing profit, its marginal revenue
a. must be positive
b. must be negative
c. must equal zero
d. may be either positive or negative
e. must be upward sloping
A
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The table above gives data for the nation of Mosh. If real GDP is $9 trillion, then unplanned inventory change equals
A) $9 trillion. B) $5 trillion. C) $5.5 trillion. D) 0. E) $1.25 trillion.
Economic analysis of product differentiation leads to all of the following conclusions except one. Which is the exception?
a. Product differentiation makes it harder for firms to collude. b. Product differentiation makes price leadership harder to maintain. c. Product differentiation sometimes contributes to wasteful allocation of resources. d. Product differentiation must be based on real, substantive differences among products. e. There is a tradeoff between using resources efficiently and providing consumers with wide choices.