If a monopolist had a zero marginal cost of production, it would maximize profits by choosing to produce a quantity where ______.
a. demand was inelastic
b. demand was unit elastic
c. demand was elastic
d. It is impossible to determine where along a demand curve such a monopolist would choose to produce.
Ans: b. demand was unit elastic
Economics
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An individual deposits a certain amount in a bank. The amount deposited is referred to as ________
A) interest B) principal C) installment D) time value of money
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As of 2013, how large is the debt of developing countries to the rest of the world?
A) $350 million B) $350 billion C) $7 trillion D) $35 trillion E) $3.5 trillion
Economics