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    A monopoly is producing a level of output at which price is $80, average total cost is $100, and ave

    A monopoly is producing a level of output at which price is $80, average total cost is $100, and average fixed cost is $10. In order to maximize profit, the firm should: a) produce more ...
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    Consider the market for pizza. Which of the following would cause a decrease in market equilibrium p

    Consider the market for pizza. Which of the following would cause a decrease in market equilibrium price and quantity? a. A decrease in the number of pizza buyers. b. A decrease in the...
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    If both supply and demand decrease by the same amount, the equilibrium price: A. falls B. rise

    If both supply and demand decrease by the same amount, the equilibrium price: A. falls B. rises C. cannot be predicted D. does not change E. None of the answers is correct bec...
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    The demand for cat food decreases while the supply increases. The equilibrium price of cat food ____

    The demand for cat food decreases while the supply increases. The equilibrium price of cat food _____, and the equilibrium quantity _____. A. rises; decreases B. falls; increases C....
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    Market equilibrium occurs when: A. the quantity demanded equals the quantity supplied. B. oppo

    Market equilibrium occurs when: A. the quantity demanded equals the quantity supplied. B. opposing forces pull demand and supply apart. C. demand and supply move in opposite directi...
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    If the demand curve for fuel shifts rightward, we can conclude that the equilibrium quantity for thi

    If the demand curve for fuel shifts rightward, we can conclude that the equilibrium quantity for this fuel will _____, while equilibrium price will _____. A. increase; decrease B. decr...
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    If the supply curve for fuel shifts leftward, we can conclude that the equilibrium quantity for fuel

    If the supply curve for fuel shifts leftward, we can conclude that the equilibrium quantity for fuel will _____, while equilibrium price will _____. A. decrease; decrease B. increase; ...
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    What are the necessary conditions for a monopoly position in the market to be established?

    What are the necessary conditions for a monopoly position in the market to be established?...
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    When aggregate expenditure = GDP: A) net exports equal zero B) the federal budget is balanced

    When aggregate expenditure = GDP: A) net exports equal zero B) the federal budget is balanced C) saving equals zero D) macroeconomic equilibrium occurs...
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    Consider the market for a (homogeneous) product where inverse demand is given by: P=120−Q. A f

    Consider the market for a (homogeneous) product where inverse demand is given by: P=120−Q. A firm's cost function for producing the good: C(q)=0.5q2+40q. A) Suppose that ther...
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    An increase in a monopolists fixed costs would: a. possibly increase, decrease or not affect prof

    An increase in a monopolists fixed costs would: a. possibly increase, decrease or not affect profit-maxmizing price and quantity, depending on the elasticity of demand. b. not affect t...
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    Describe the forces that move a market toward its equilibrium

    Describe the forces that move a market toward its equilibrium...
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    Consider how to define the equilibrium of a market.

    Consider how to define the equilibrium of a market....
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