Economies of scale can interfere with competition
Indicate whether the statement is true or false
T Economies of scale can limit the number of firms in a market, and thus competition among them.
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Jennifer buys a piece of costume jewelry for $33 for which she was willing to pay $42. The minimum acceptable price to the seller, Nathan, was $30. Jennifer experiences
A. a producer surplus of $9 and Nathan experiences a consumer surplus of $3. B. a producer surplus of $9 and Nathan experiences a producer surplus of $12. C. a consumer surplus of $9 and Nathan experiences a producer surplus of $3. D. a consumer surplus of $12 and Nathan experiences a producer surplus of $3.
Why is there unemployment even when the economy is at "full employment"?
What will be an ideal response?
For all intents and purposes, the Great Depression ended in
A. 1933. B. 1937. C. 1941. D. 1945.
A positive temporary supply side shock will:
A. increase the level of potential output in the long run. B. decrease the price level in the long run. C. increase the price level in the long run. D. have no effect in the long run.