This monopolist
A. is in the short run.
B. is in the long run.
C. may be in the short run or the long run.
C. may be in the short run or the long run.
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Affirmative action programs serve three purposes. Which of the following is not one of those purposes?
A) Address current issues of discrimination. B) Enhance diversity in places where it is of particular value. C) Redress past wrongs. D) Guarantee employment regardless of qualifications.
Refer to Figure 3-2. An increase in the number of firms in the market would be represented by a movement from
A) A to B. B) B to A. C) S1 to S2. D) S2 to S1.
Government spending on transfer payment programs such as public assistance and agriculture are governed by the principles of
a. efficiency and accountability b. nonexclusivity and nonrivalry c. private and social d. equity and stability e. taxation and subsidies
As it relates to corporations, the principal-agent problem is that:
A)the goals of the corporate managers (the agents) may not match the goals of the corporate owners (the principals). B) it is costly for the corporate owners (the principals) to obtain a corporate charter from government (the agent). C) the goals of the corporate managers (the principals) may not match the goals of the corporate owners (the agents). D) the federal government (the agent) taxes both corporate profits and the dividends paid to stockholders (the principals).