The monopolist's outcome in the long run differs from that of the perfectly competitive firm in that it:
A. has zero profits in the long run.
B. charges a price above average total costs.
C. charges a price where marginal costs equal average revenue.
D. charges a price equal to MC.
B. charges a price above average total costs.
Economics
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Refer to Figure 9.6. Before this policy was implemented, producer surplus was
A) $10. B) $2000. C) $4000. D) $6000. E) $12000.
Economics
Germany could have avoided the high inflation that it experienced in the 1920s by
a. not directing so many of its resources toward preparation for World War II. b. not increasing taxes so much on the German middle class. c. not allowing the quantity of money to increase so rapidly. d. using government policies to stimulate the economy more so than what was done.
Economics