The recession of the early 1990s was triggered by a decrease in aggregate supply

A single-price monopoly is producing at an output level where marginal revenue is $15, marginal cost is $13, and price is $20. This monopoly is

A) not maximizing its profit and should decrease output to increase its profit. B) not maximizing its profit and should increase output to increase its profit. C) maximizing its profit but should shut down. D) maximizing its profit and should not shut down. E) maximizing its profit but still should decrease output to earn even more profit.

Production of Hollywood movies is an increasing cost industry. Which of the following contributes the most to this condition?

a. The demand for carpenters to build sets b. The demand for painters to paint the theaters c. The demand for printers to print tickets d. The cost of advertising for the shows e. The cost of hiring known box-office superstars