In the long run, the expansion path is
A) horizontal.
B) vertical.
C) diagonal.
D) Not enough information.
D
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In the above figure, the maximum number of units that 4 workers can produce is
A) 5 units. B) 10 units. C) 15 units. D) more than 15 units.
The moral hazard problem refers to
a. difficulty banks have in satisfying the government's reserve requirement. b. depositors making a run on the bank, even though the bank is insured. c. banks taking on more risk in their lending because they know their depositors are insured. d. banks issuing bank notes that compete with the government's currency.
Which of the following equations accurately reflects long-run equilibrium in the monopolistically competitive firm?
a. DLR > ATC and MRLR = MC b. DLR < ATC and MRLR > MC c. DLR = ATC and MRLR = MC d. DLR = ATC and MRLR < MC
A curve that shows the relationship between the price and quantity supplied during a particular period, all other things unchanged, is the:
A) price curve. B) supply curve. C) quantity function. D) production possibilities curve.