When you pay for some purchase with a check, cash must be transferred to another account to pay for the check
a. True
b. False
Indicate whether the statement is true or false
False
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A natural monopoly's output is less if it is regulated with
A) a marginal cost pricing rule than if it is unregulated. B) an average cost pricing rule than if it is unregulated. C) an average cost pricing rule than if it is regulated with a marginal cost pricing rule. D) a marginal cost pricing rule than if it is regulated with an average cost pricing rule. E) More information about the firm's demand is needed to determine how its output depends on what regulation it faces.
A demand curve with unit elasticity can never touch either the vertical or horizontal axes.
Answer the following statement true (T) or false (F)
A cartel will break down more easily if
A) there are only a few members. B) industry demand is very stable. C) market prices can be observed easily. D) there are many entrants in the industry.
The entry of firms into a perfectly competitive industry causes the supply curve to
A. increase its slope. B. decrease its slope. C. move toward the right. D. move toward the left.