Other things being equal, the behavior of a monopolist differs from that of a competitive industry in that
A) the monopolist does not attempt to maximize economic profit.
B) the monopolist hires more labor.
C) the monopolist restricts output and hires less labor.
D) the monopolist must consider fixed costs in deciding the optimal level of output to produce in the short run.
C
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If Turkey wants to promote faster economic growth, it will need to
A) promote government intervention to help markets determine incentives. B) restrict property rights so that individuals can better share inventions. C) promote incentive systems to encourage saving, research and development, increased trade and improved education. D) restrict economic freedom so the government has better control of markets. E) restrict international trade to protects its own workers.
After 1945, the national debt as a percent of GDP:
a. decreased slightly. b. decreased substantially. c. remained about the same. d. increased slightly. e. increased substantially.