When a regulator allows a monopolist to set its price equal to long-run average cost, the regulator is practicing

Consider the IS-LM curves for an economy with flexible exchange rates. An increase in the foreign income will result in the:

A) LM curve shifting to the right. B) IS curve shifting to the right. C) LM curve shifting to the left. D) IS curve shifting to the left.

In order to determine whether to major in economics, a rational individual compares the ________ of the decision

A) normative benefits and positive costs B) positive benefits and normative costs C) marginal benefit and marginal cost D) self-interest and social-interest E) opportunity cost and the sunk cost