In a bilateral monopoly, the wage rate that is determined in the market
A) is equal to MFC.
B) is equal to MRP.
C) is indeterminate.
D) is the same as in a perfectly competitive market.
Answer: C
Economics
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If the MPC is 0.6 and there are no imports or income taxes, the multiplier is
A) 6. B) 0.4. C) 2.5. D) 0.6. E) 1.7.
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When the government uses a cap-and-trade approach in dealing with pollution, it
A) uses taxes in order to internalize the externalities caused by the pollution. B) imposes quantitative limits on the amount of pollution firms are allowed to generate. C) uses subsidies to encourage firms to use new technology that reduces pollution. D) distributes information to consumers and producers on how to reduce pollution.
Economics