The demand curve faced by the monopolist
A) has a constant price elasticity.
B) is the industry demand curve.
C) is identical to the firm's MR curve.
D) is identical to the firm's TR curve.
B
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If a product has an external benefit, how does its marginal private benefit compare to its marginal social benefit?
A) Marginal private benefit is less than marginal social benefit. B) Marginal private benefit is greater than marginal social benefit. C) At low quantities, marginal private benefit is less than marginal social benefit but at high quantities, marginal private benefit is greater than marginal social benefit. D) At low quantities, marginal private benefit is greater than marginal social benefit but at high quantities, marginal private benefit is less than marginal social benefit. E) Marginal private benefit cannot be compared to marginal social benefit.
A one-year Treasury bill that sells for $952.38 and has a face value of $1,000 has an annual yield of
A) 10 percent. B) 8 percent. C) 6 percent. D) 5 percent.