For a monopoly, the level of output at which marginal revenue equals zero is also the level of output at which

The real business cycle theory is based on all of the assumptions below EXCEPT

A) flexible wages. B) flexible prices. C) pure competition. D) small menu costs.

If the quantity of hamburgers is measured along the horizontal axis and the quantity of movies is measured along the vertical axis, an increase in the price of a movie would be shown by

A) shifting the budget constraint in towards the origin. B) shifting the budget constraint out. C) rotating the budget constraint around the horizontal intercept such that the new vertical intercept is closer to the origin. D) making the budget constraint steeper.