Monopoly is a prime example of a market failure that leaves potential Pareto improvements unexploited. This is demonstrated by the fact that
a. monopolies produce public goods rather than private goods
b. monopolies substitute excludability for rivalry
c. monopolies substitute rivalry for excludability
d. the price in a monopolized market is less than the marginal cost of production
e. the price in a monopolized market exceeds the marginal cost of production
E
Economics
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A $10,000 8 percent coupon bond that sells for $10,000 has a yield to maturity of
A) 8 percent. B) 10 percent. C) 12 percent. D) 14 percent.
Economics
Which of the following is a primary objective of monetary policy?
A) achieving a zero natural rate of unemployment B) targeting a zero rate of inflation C) achieving price stability D) all of the above E) none of the above
Economics