A monopolist faces a demand curve given by P = 60 -2Q and has total costs given by TC = Q2. Its marginal revenue is MR = 60 - 4Q and its marginal cost is MC = 2Q. In autarky, what is the firm's equilibrium output?

The consumer price index is

A) an average of the prices of the goods and services purchased by the typical family. B) the cost of a market basket of goods and services typically consumed in a base year. C) the cost of a market basket of goods and services typically consumed in the current year. D) an average of the prices of new final goods and services produced in the economy over a period of time.

Which of the following statements is true?

a. When a change in income causes consumption to change, the consumption-income line shifts; however, when anything besides income changes, we move along the line. b. When a change in income causes consumption to change, we move along the consumption-income line; however, when anything besides income changes, the line shifts. c. When income or anything else affecting consumption changes, we move along the consumption-income line. d. When income or anything else affecting consumption changes, the consumption-income line shifts. e. There is no way to determine, without more information, whether a change in income or anything else will shift the consumption line or cause movement along the consumption-income line.