Monopolistic competition is more similar to monopoly than any other industry model
a. True
b. False
Indicate whether the statement is true or false
False
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If the market for maple syrup is perfectly competitive, then in the long-run equilibrium, firms are
A) entering the market. B) exiting the market. C) making zero economic profit. D) temporarily shutting down.
An option that gives the owner the right to buy a financial instrument at the exercise price within a specified period of time is a
A) call option. B) put option. C) American option. D) European option.
Refer to the above table. Suppose the price of X increases from $10 to $12. What is the cross price elasticity of demand between X and Z?
A) +0.292 B) +7.06 C) -7.06 D) -0.292
A producer is hiring 20 units of labor and 6 units of capital (bundle A). The price of labor is $10, the price of capital is $2, and at A, the marginal products of labor and capital are both equal to 20. In equilibrium,
A. MPL will be less than 20. B. MPL will be 5 times MPK. C. MPK will be more than 20. D. a and b E. none of the above