In the above figure, which point represents the under use of resources?
A) point F
B) point G
C) point H
D) point K
B
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Suppose a Cournot oligopoly is operating in a market where demand is linear and marginal costs are constant. We can conclude that the total output supplied is
a. 1/3 of the perfectly competitive output. b. 1/2 of the perfectly competitive output. c. 2/3 of the perfectly competitive output. d. equal to the competitive output.
Which of the following markets is likely to be perfectly competitive?
A) The market for patented nuclear medicines B) The market for wheat C) The market for smart phones D) The market for shower gel
In the Malthusian model, population growth is endogenous because
A) the birth rate is endogenous. B) the death rate is endogenous. C) the birth and death rates are endogenous. D) neither is endogenous.
If collusion was not illegal, than it is more optimal
a. For megastore to advertise and for superstore to advertise b. For megastore to advertise and for superstore not to advertise c. For megastore not to advertise and for superstore to advertise d. For megastore not to advertise and for superstore not to advertise