A firm will buy monopoly power until the marginal cost of having a monopoly:
A. is more than the marginal benefit.
B. is less than the marginal benefit.
C. equals the marginal benefit.
D. equals the price of its product.
Answer: C
Economics
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The above figure shows how many pounds of peanuts farmers are willing to sell at different prices per pound of peanuts. If the price of a pound of peanuts is $1 and the price of a pound of pecans is $2, peanut farmers are willing to sell
A) no peanuts. B) 1000 pounds of peanuts. C) 2000 pounds of peanuts. D) 4000 pounds of peanuts.
Economics
The total amount of physical capital available in a country is know as the country's
A) capital stock. B) investment. C) savings. D) labor productivity.
Economics