To derive a demand curve using utility analysis,
a. change a consumer's marginal utilities and note the effect of demand curve changes on market prices
b. change a consumer's marginal utilities and note the effect of supply curve changes on market prices
c. change a consumer's marginal utilities and note the effect of supply and demand curve changes on market prices
d. note how the consumer's utility-maximizing consumption bundle changes in response to price changes
e. note how the consumer's utility-maximizing consumption bundle changes in response to demand-curve shifts
D
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Which of the following summarizes the feedback loop discussed in the video?
A. As the money supply increased, real GDP decreased, which caused the money supply to increase even faster, and so on. B. As the money supply increased, prices rose, which caused the money supply to increase even faster, and so on. C. As prices rose faster, the government had to print even more money, which caused prices to rise even faster, and so on. D. As prices rose faster, real GDP increased, which caused prices to rise even faster, and so on.
Suppose that for a monopolist, MR = MC = $10 and P = $15 at the profit-maximizing level of output. At this level of output, the firm
a. is earning a profit b. will shut down if AVC > $15 c. is making $5 profit on each unit sold d. will shut down if ATC > $15 e. is losing $5 per unit produced