Use the above figure. The profit-maximizing output and price for this monopolistically competitive firm are respectively
A) 100 and $19.
B) 160 and $13.
C) 160 and $16.
D) 210 and $15.
C
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"Every point on a budget line has an indifference curve passing through it." Explain whether the previous statement is correct or not
What will be an ideal response?
A quota is a:
a. tax on a specific quantity of imported goods. b. limited number of foreign firms that can sell imported goods. c. restrictive health and safety standard that raises costs. d. tax on domestic producers so that they can make higher profits. e. limit on the quantity of a good that can be imported.
In the graph showing the Phillips curve after a positive supply shock, we can see that a positive supply shock would cause ______.
a. a leftward shift in the Phillips curve
b. a rightward shift in the Phillips curve
c. a movement to a point further up the Phillips curve
d. a movement to a point further down the Phillips curve
Suppose that an industry contains 4 firms with the following market shares: 50%, 25%, 15%, 10%. What is the value of the Herfindahl-Hirschman Index for this industry?
What will be an ideal response?