In a monopoly market, an upward shift in the market demand results in a new equilibrium with
A. | A higher quantity and a lower price |
B. | A higher quantity and the same price |
C. | A higher quantity and higher price |
D. | All the above |
Option: D Explanation : Click on Discuss to view users comments. |
Government regulation is important because government
A. | uses scarce resources. |
B. | regulation reduces public-sector employment. |
C. | produces most of society's services output. |
D. | produces most of society's material output. |
Option: A Explanation : Click on Discuss to view users comments. |
Price control is one of the monopoly regulations which is most advantageous for
A. | The government |
B. | The consumer |
C. | The producer |
D. | The seller |
Option: B Explanation : Click on Discuss to view users comments. |
When the units of factor increases, marginal revenue productivity of a factor
A. | Will fall or diminish |
B. | Will have no change |
C. | Will rise or increase |
D. | None of the above |
Option: A Explanation : Click on Discuss to view users comments. |