During the Great Depression in the 1930s, the average tariff level in the United States peaked at about

There is no free lunch means

A) each action has a cost. B) each choice involves a free item. C) each decision has elements of free goods in it. D) if you get your lunch paid for by someone else, it is free, but if you have to pay, it is not free. E) if you are invited to lunch by someone, you are not expected to pay for it.

For a monopolist, marginal revenue is always

A) greater than price. B) equal to price. C) equal to zero. D) less than price.