The law of diminishing marginal returns results in average total cost eventually
A. decreasing at an increasing rate.
B. increasing at an increasing rate.
C. increasing at a decreasing rate
D. decreasing at a decreasing rate.
Answer: B
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Which of the following is likely to have the highest price elasticity of demand?
A. running shoes B. shoes C. Nike running shoes D. The price elasticity of demand will be the same for all of the answers listed.
Compare and contrast the effect of perfect competition to the effect of perfect price discrimination on: a) efficiency. b) consumer surplus. c) economic profit in the long run
What will be an ideal response?
Which institutions can create money?
A. Mutual funds and retirement funds B. The government and its agencies C. The Fed and the banks D. Households and corporations
U.S. automakers have an interest to make it more difficult for European competitors to locate assembly plants in Canada or Mexico and thereby ship finished automobiles to the United States duty-free. This is an example of
A) trade deflection. B) trade diversion. C) quotas. D) rules of origin.