If the cross-price demand curve for capital (relative to the wage) is vertical, the short run response by a firm to an increase in the wage is the same as its long run response.

The marginal cost of a monopolist is constant and is $10. The marginal revenue curve is given as follows: MR = 100 - 2Q The profit maximizing price is

A) $70. B) $65. C) $60. D) $55. E) $50.

Which of the following is the best statement about how the amount of the net public debt that a typical individual owes to the holders of the debt has varied in the recent past?

A) The amount has not varied much over time. B) The amount has varied a lot over time. C) The amount has steadily increased over time. D) The amount has steadily decreased over time.