A good example of a market that resembles a contestable market would be
A. electric power production.
B. trucking companies.
C. auto manufacturing.
D. urgent-care clinics.
Answer: B
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A short-run increase in the price of a firm's output will typically
A) lead to a movement along the firm's demand for labor curve. B) lead to more employment in the competitive firm. C) not impact the hiring of labor. D) make the demand for labor more inelastic.
In order to ensure allocative efficiency on the part of a natural monopoly, regulators would set price equal to marginal cost
a. True b. False
In Table 10.1, what is the unemployment rate in Year 10?
A. .05 percent B. 10 percent C. 45 percent D. 50 percent
The federal share of Medicaid financing, or federal matching assistance percentage (FMAP), ranges from a minimum of _____ percent in 13 high-income states to _____ percent in Mississippi.
a. 50; 60 b. 25; 50 c. 50; 75 d. 25; 75