The United States
A) has never had a significant problem with corruption.
B) currently is one of the most corrupt countries.
C) currently ranks among the least corrupt countries.
D) had a significant problem with corruption in the 1930s.
C
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To maximize profit a monopolist will produce where
A) marginal revenue is equal to marginal cost. B) average total cost is equal to average revenue. C) demand for its product is unit elastic. D) revenue per unit is maximized.
Nike has used Michael Jordan to create the impression that Air Jordan basketball shoes are superior to any other basketball shoes. Nike is attempting to
A) differentiate Air Jordan basketball shoes from other types of basketball shoes. B) convince consumers that Air Jordan basketball shoes are no different from other basketball shoes favored by celebrities. C) lower the marginal cost of producing Air Jordan basketball shoes. D) increase its profit by raising the price of Air Jordan basketball shoes.