Exhibit 7-16 Short-run cost curves for a competitive firm
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In Exhibit 7-16, the firm should shut down in the short run if the market price of its product falls below:
A. $20 per unit.
B. $30 per unit.
C. $50 per unit.
D. $80 per unit.
Answer: B
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A fall in the domestic interest rate leads to capital
A. outflows and exchange rate appreciation. B. outflows and exchange rate depreciation. C. inflows and exchange rate depreciation. D. inflows and exchange rate appreciation.
The joining of the eastern and western sections of nation's first transcontinental railroad was commemorated with the driving of the last spike on May 10, 1869:
a. in Salt Lake City. b. in Washington, D.C. c. at Promontory Point. d. on the rim of the Grand Canyon.
A tax rate increase necessarily leads to an increase in tax revenue for the government
Indicate whether the statement is true or false
The market model with the largest number of firms is:
A. pure monopoly. B. monopolistic competition. C. pure competition. D. oligopoly.