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 |
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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. |
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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 |
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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 |
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Option: A Explanation : Click on Discuss to view users comments. |
