A single-price monopoly has marginal revenue and marginal cost equal to $19 at 15 units of output where the price on the demand curve is $38. At this output, average total cost is $15. What is the total profit earned?

Suppose fiscal policy makers implement a policy to reduce the size of a budget deficit. Based on the IS-LM model, we know with certainty that the following will occur as a result of this fiscal policy action

A) Investment spending will decrease. B) Investment spending will increase. C) There will be no change in investment spending. D) Investment spending may increase, decrease, or not change. E) none of the above

If consumers desire choice

A) network effects with be minimized. B) network effects are enhanced. C) networks shift back to a previous technology. D) government will regulate variety.