Provisions in loan contracts that prohibit borrowers from engaging in specified risky activities are called
A) proscription bonds.
B) restrictive covenants.
C) due-on-sale clauses.
D) liens.
B
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In 2008, a former Intel engineer has been charged with stealing trade secrets worth $1 billion. Intel owns 90 percent of the worldwide market for microprocessors, AMD has the rest. The microprocessor market is most like an example of
A) monopoly. B) oligopoly. C) perfect competition. D) monopolistic competition.
Assume that the medical screening industry is perfectly competitive. Consider a typical firm that is making short-run losses
Suppose the medical screening industry runs an effective advertising campaign which convinces a large number of people that yearly CT scans are critical for good health. How will this affect a typical firm that remains in the industry? A) The firm's marginal revenue curve and average cost curve shift upwards in response to the increase in market price and advertising expenditure. The firm increases output until it starts breaking even. B) The marginal revenue curve shifts upwards, the firm's output increases along its marginal cost curve, it expands production until it breaks even. C) The firm's supply curve shifts right and its marginal revenue curve shifts upwards as the market price rises and ultimately the firm starts making profits. D) The marginal revenue curve shifts upwards, the firm's output increases along its marginal cost curve, it expands production and eventually starts making profits.
When we move up or down a given demand curve,
a. all non-price determinants of demand are assumed to be constant. b. income and the price of the good are held constant. c. all determinants of quantity demanded are held constant. d. only price is held constant.
For perfectly competitive firms, marginal revenue always equals price.
Answer the following statement true (T) or false (F)