Any combination of goods beyond the budget line is not feasible
a. True
b. False
Indicate whether the statement is true or false
True
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What are the most important differences between perfectly competitive markets and monopolistically competitive markets?
What will be an ideal response?
In a perfectly competitive market, a firm's short-run supply curve is
A) its total cost curve. B) its marginal cost curve equal to or above the point of intersection with its average variable cost curve. C) its average variable cost curve below the point of intersection with its total cost curve. D) its total cost curve between the shutdown point and the break-even point.
The value of R2 always _____.
A. lies below 0 B. lies above 1 C. lies between 0 and 1 D. lies between 1 and 1.5
Restrictive labor law can create two different groups
A. insiders, who enjoy long-term stable employment, and outsiders, who end up with high unemployment rates. B. insiders, who end up with high unemployment rates, and outsiders, who enjoy long-term stable employment. C. employers, who bear the costs of restrictive labor laws, and workers, who enjoy the benefits of restrictive labor laws. D. employers, who enjoy the benefits of restrictive labor laws, and workers, who bear the costs of restrictive labor laws.