In examining consumer behavior, one of the constraints faced by consumers is

The above table gives the demand schedule for a single-price monopoly. If the marginal cost is $3, the profit maximizing output for the monopoly will be between

A) 1 to 2 units. B) 2 to 3 units. C) 3 to 4 units. D) 4 to 5 units. E) Exactly 5 units.

High tariffs on intermediate inputs

A) increase the effective rate of protection on final goods. B) have no impact on the effective rate of protection on final goods. C) decrease the effective rate of protection on final goods. D) lower the nominal rate of protection on final goods. E) raise the nominal rate of protection on final goods.