A profit-maximizing monopolist, if producing at all, chooses a level of output where:
a. total revenue is maximized
b. total cost is minimized.
c. average total cost is minimized.
d. marginal revenue equals marginal cost.
d
Economics
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Suppose the U.S. government announces that it will bring the federal budget deficit to zero, over the next ten years, with no change in tax rates
Describe the effects of such a policy according to the three business cycle models, assuming that the policy is fully credible.
Economics
The magnitude of the annual overstatement of the CPI is approximately
A. one percentage point. B. one-tenth of one percentage point. C. one-half of one percentage point. D. five percentage points.
Economics