Twisted Root is a local Dallas-based burger restaurant. It is likely a: ______
Fill in the blank(s) with the appropriate word(s)
Answer: Monopolistic competitor
(Monopolistic competitors would be able to operate at lower costs if customers did not expect individualized custom service or an extensive array of products.)
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As Goldilocks consumes more gummy bears, her total utility ________ and her marginal utility from gummy bears ________
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
Buying a newly issued bond implies:
a. borrowing money from a private bank. b. taking over the ownership of the issuing firm. c. lending money to the issuing firm. d. paying the price for a service rendered by the issuing firm. e. borrowing funds from international organizations.
When a firm is a price maker
A) price is equal to marginal revenue. B) price is greater than marginal revenue. C) price is less than marginal revenue. D) price is equal to marginal cost.
In the short run, the competitive firm will hire more labor if
A) the wage rate increases. B) the price the firm receives for the output increases. C) the price the firm receives for the output decreases. D) a specific tax is imposed on the output.