题目内容

Which of the following statements about a monopolist is least accurate

A profit-maximizing monopolist will expand output until marginal revenue equals marginal cost.
B. A profit-maximizing monopolist will supply less of his product than the amount consistent with the conditions of ideal static efficiency for an economy.
C. A monopolist will always be able to earn economic profit.

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Are the following two statements about the marginal revenue product (MRP) of a factor of production correct Statement 1: In a price taker market, the MRP of an input is the marginal product of the input multiplied by the price of the output it generates. Statement 2: If we compare any two productive inputs, the one with the higher MRP will earn greater economic rent. Statement 1 Statement 2 ①A. Correct Correct ②B. Incorrect Correct ③C. Correct Incorrect

A. ①
B. ②
C. ③

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Compared to a competitive market, a monopoly situation will produce:

A. less output, and the sum of the consumer surplus and the producer surplus will be reduced.
B. more output, and the sum of the consumer surplus and the producer surplus will be reduced.
C. less output, and the sum of the consumer surplus and the producer surplus will be increased.

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Price discrimination is most accurately defined by which of the following Price discrimination is the practice of charging different consumers different prices for:

A. similar products that have identical per-unit production costs.
B. products that have identical price elasticities of demand.
C. the same product or service.

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Keith Keeley, an associate at Friedman, Harris, and Levinsky LLC, was requested by a Managing Director of the firm to help construct the consumer price index (CPI). Keeley sought to determine which goods and services to include in the index by observing what a typical U. S. household purchases. He then took a large survey of individuals to determine what percentage of their disposable income they spend on each of the items and used these percentages as the weights for the major categories in the CPI. The steps that Keeley undertook are all part of which stage in constructing the CPI index

A. Select the CPI basket.
B. Calculate the CPI.
Conduct the monthly price survey.

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