The result of government intervention in the market is that
A. The production possibilities curve always shifts outward.
B. Society is always worse off.
C. Society is always better off.
D. Society could be made better or worse off.
Answer: D
Economics
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If a monopolist wishes to increase its output and quantity sold
A) it must reduce its price, so its marginal revenue is greater than its price. B) it must reduce its price, so its marginal revenue is less than its price. C) it must raise its price, so its marginal revenue is greater than its price. D) it must raise its price, so its marginal revenue is less than its price.
Economics
Discuss and explain the relationships between the monopolist's demand curve, average revenue curve, and marginal revenue curve
What will be an ideal response?
Economics