Monopolies use their market power to
a. charge prices that equal minimum average total cost.
b. increase the quantity sold as they increase price.
c. charge a price that is higher than marginal cost.
d. dump excess supplies of their product on the market.
c
Economics
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Countercyclical fiscal policy has a serious problem with
a. the timing of its enactment and impact. b. the easy reversibility of policy. c. the tendency of the Federal Reserve to immediately counter Congressional action. d. the courts as it has been held to be unconstitutional. e. Presidential executive orders.
Economics
The equilibrium purchase price of an acre of land depends upon the current value of the marginal product of land and upon the __________
Fill in the blank(s) with correct word
Economics