Private ownership of a monopoly may benefit society because the monopoly will have an incentive to
a. charge a price that is consistent with that of a benevolent social planner.
b. charge a price that prevents some people from buying.
c. price its good according to the intersection of marginal cost and average revenue.
d. lower its costs to earn a higher profit.
d
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Which of the following statements about economic fluctuations istrue ?
A. A variety of spending, income, and output measures can be used to measure economic fluctuations because most macroeconomic quantities tend to fluctuate together. B. Economic fluctuations have been termed the "business cycle" because the movements in output are regular and predictable. C. A depression is a mild recession. D. A recession is when output rises above the natural rate of output. E. None of these answers are true.
An individual who voluntarily leaves one job and spends a period of time seeking another is considered: a. frictionally unemployed. b. cyclically unemployed
c. structurally unemployed. d. seasonally unemployed.