Excess capacity is the
A) difference between a perfectly competitive firm's and a monopolistically competitive firm's output.
B) difference between a perfectly competitive firm's and a monopoly's output.
C) output at the maximum point of the ATC curve.
D) None of the above answers is correct.
D
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Which of the following is a macroeconomics question?
A) What factors determine the price of carrots? B) What determines the production of DVDs? C) What determines the inflation rate? D) What determines the wage of auto workers?
Which of the following countries has gone so far as to adopt the U.S. dollar as its domestic currency?
a. Panama b. Ecuador c. Zimbabwe d. all of the above
If an economy begins to use its resources more efficiently, it will move
A. from one point to another point along its ppf. B. closer to its ppf. C. from a point along its ppf to a point outside its ppf. D. farther away from its ppf.
Use the following graph for a monopolistically competitive firm to answer the next question.
A successful advertising campaign by the firm will cause its demand curve to shift from
A. B to A and become more elastic. B. A to B and become more elastic. C. A to B and become less elastic. D. B to A and become less elastic.