Which of the following is likely among the most concentrated industries in the United States?
A) printing and publishing
B) soft drinks
C) tobacco products
D) household vacuum cleaners
C
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A firm will never operate at a loss
Indicate whether the statement is true or false
Suppose the government decides to increase taxes by $50 billion and to increase transfer payments by $50 billion. What effect would there be on aggregate demand?
A. $50 billion increase. B. More than $50 billion increase after the multiplier effect. C. $50 billion decrease. D. No impact.
In the above table, if the marginal revenue product is $14, how many workers will the profit maximizing monopsonist hire?
A. 2 B. 3 C. 4 D. 5
Refer to the information provided in Table 6.3 below to answer the question(s) that follow. Table 6.3Dozens of Oysters per DayTotal UtilityMarginal Utility160?2104?3134?4152?5?8Number ofBeers per DayTotal UtilityMarginal Utility140?270?394?4114?5?14Refer to Table 6.3. The total utility of five beers per day is
A. 70. B. 128. C. 184. D. indeterminate from this information.