Some economists reject the idea that bigness is __________. These people believe our policy should be __________
a. c, d, and e
b. efficient or technologically superior; to encourage bigness
c. inevitable; to break big firms up
d. contestable; to contest bigness
e. inevitable; laissez-faire
C
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When government outlays exceed tax revenues, the situation is called a budget
A) surplus. B) deficit. C) with a negative balance. D) with no balance. E) debt.
In the above figure, if the monopolist engages in marginal cost pricing, what are its output and price?
A) 1,200, $3 B) 900, $7 C) 700, $7 D) 700, $10
Which of the following is most likely a fixed cost?
A. The labor on an automotive assembly line. B. The electricity used to run packaging equipment. C. The rent for a factory. D. The material used to make jackets.
Refer to the table shown to answer the question. Between $2.20 and $2.40, demand is:PriceQuantity Demanded$1.60130$1.80120$2.00110$2.20100$2.4090$2.6080
A. unit elastic. B. perfectly elastic. C. inelastic. D. elastic.