If there are diminishing returns to capital, then
a. capital produces fewer goods as it ages.
b. old ideas are not as useful as new ones.
c. increases in the capital stock eventually decrease output.
d. increases in the capital stock increase output by ever smaller amounts.
d
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In the case of a technology spillover, internalizing a positive externality through a government subsidy will cause the industry's supply curve to
a. shift up by an amount equal to the subsidy. b. shift down by an amount less than the subsidy. c. shift down by an amount equal to the subsidy. d. shift down by an amount greater than the subsidy.
When you make a routine, everyday decision it is called
a. habit b. programmed c. nonprogrammed d. geocentric
In the above figure, what is total cost at the profit-maximizing point?
A. $182 B. $126 C. $170 D. $112
The government uses market share figures contained in the ________to help determine whether or not it will challenge a proposed merger.
A. antitrust prohibition ratio B. Herfindahl-Hirschman Index C. concentration ratio D. Cellar-Kefauver Index