Refer to the graph below for a monopolist in short-run equilibrium. This monopolist will charge a price:
A. 0A
B. 0B
C. 0C
D. Not labeled on the graph
B. 0B
Economics
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In the short run, a rightward shift of the short-run aggregate supply curve ________ real GDP and ________ the price level
A) decreases; lowers B) increases; raises C) decreases; raises D) increases; lowers
Economics
Oscar and Felix are the only firms that clean offices in a large city. They agree to operate as a cartel. The payoff matrix above gives the economic profit that each firm can make
If Felix cheats on the agreement but Oscar complies, Felix makes an economic profit of ________ and Oscar makes an economic profit of ________. A) $10 million; $10 million B) $1 million; $1 million C) -$2 million; $12 million D) $12 million; -$2 million
Economics