A market with few entry barriers and with many firms that sell differentiated products is
A) purely competitive.
B) a monopoly.
C) monopolistically competitive.
D) oligopolistic.
C
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Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower
What are the factors that change saving and shift the supply of loanable funds curve?
What will be an ideal response?
In a perfectly competitive market in which all firms are maximizing their economic profits, the demand and supply curves intersect at a price of $8. From this we know that each
A) firm's average total cost of producing the good is $8. B) firm's average variable cost of producing the good is $8. C) firm's marginal cost of producing the good is $8. D) firm is earning positive economic profits at a price of $8 or more.
Which of the following will most likely qualify for unemployment compensation benefits?
a. A new college graduate who cannot find work despite a desperate job search b. An unemployed coal miner who has been receiving benefits for the past six months c. A former retail clerk who quit her job because the boss was too demanding d. A spot welder who has just gotten his first "pink slip" in the mail after ten years of continuous employment e. An accountant who was fired from his last position for drinking alcohol on the job