_____% of all American business firms are monopolistic competitors.
Fill in the blank(s) with the appropriate word(s).
Over 99
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The above figure shows the cost curves for a perfectly competitive firm. If all firms in the market have the same cost curves and the price equals $16 per unit
A) the market is in its long-run equilibrium. B) over time, firms will leave this market. C) the firm is making zero economic profit. D) over time, the price will fall as new firms enter the market.
According to Keynes, the consumption-income relationship is shown as C = a + bYD. Therefore, the saving-income relationship is
a. S = a + (1 ? b)YD. b. S = ? a + (1 ? b)YD. c. S = a + (1 ? b)/YD. d. S = ? a + (1? b)/YD.
According to some economists, firms in some industries gain a performance advantage by: a. dumping
b. charging a zero price for products. c. clustering. d. reducing R&D spending. e. increasing labor wage.
Government intervention in the farm economy that aims to create for farmers a constant or near constant level of purchasing power is called
a. partial rationing b. parity pricing c. income allotments d. price ceilings e. deficiency subsidization