If a monopolist wants to increase the amount it sells, it
A) will keep the price the same.
B) must lower the price on all units.
C) must accept lower profits.
D) must lower the cost of production.
Answer: B
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If we look at real and nominal interest rates in the United States since 1971, we see that
A) the real interest rate has almost always been less than the nominal interest rate because of inflation. B) at times the nominal interest rate has been greater than the real interest rate and at times has been less than it. C) the difference between the nominal and real interest rates has widened during the 1990s because of inflation. D) the nominal interest rate has always been less than the real interest rate because of inflation. E) both the nominal and real interest rates were negative in the highly inflationary 1970s.
How does a command-and-control policy differ from a market-based policy?
What will be an ideal response?