A monopolist faces a market demand curve with a constant elasticity of -2. The monopoly's production function is Q = 4L and its output price is given by p. What is the monopoly's marginal revenue product of labor function?

Which of the following is FALSE about the International Monetary Fund (IMF)?

A) The IMF was created after the Bretton Woods Conference to help to maintain the international fixed exchange rate system that was introduced. B) The IMF lends to national governments, initially to maintain the fixed exchange rate system, and today to deal with debt or currency crises. C) Multinational corporations can get IMF loans if they agree to invest in economies that are internationally perceived as risky and otherwise unlikely to receive direct foreign investment. D) One of the criticisms of the IMF and other international governmental organizations that deal with the global economy is that their decision making may be biased toward policies that favor industrialized nations.

Because suppliers can more readily adjust their output in the long run than in the short run, we expect price elasticity of supply to be

a. negative in the long run and positive in the short run b. positive in the long run and negative in the short run c. greater than one in the short run and less than one in the long run d. higher in the long run than in the short run e. higher in the short run than in the long run