Output in a Cournot duopoly is at a level between that in perfect competition and monopolistic competition.
Answer the following statement true (T) or false (F)
False
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The production function Y = AKbN1-b written in terms of growth rates is
A) y = a - bk - (1 - b)n. B) y = a + bk + (1 - b)n. C) y = a - bk + (1 - b)n. D) y = a + bk - (1 +b)n.
Figure 7-16
In Figure 7-16, as we move from A to B,
A. the relative price of machines falls. B. total cost falls. C. output increases. D. labor becomes less productive relative to capital.
Increases in ________ typically lead to decreases in ________
A) the interest rate; saving B) disposable income; consumption C) autonomous consumption; consumption D) all of the above E) none of the above
In a firm organized along functional lines, employee performance
a. Is easily evaluated because supervisor and employee have similar skills b. Is more difficult to evaluate because the supervisor and the employee could have different skills c. Does not need to be evaluated d. None of the above