The most socially efficient market structure in the long run is:
a. perfect competition
b. monopolistic competition.
c. oligopoly.
d. monopoly.
a
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A(n) ________ tax is a tax on wages that employers are required to withhold from employees' pay
A) social-insurance tax B) excise tax C) income tax D) value-added tax
Refer to Scenario 2. The average fixed cost of 2 units of output is:
A) $8.00. B) $8.50. C) $12.00. D) $20.50.
In Figure 13-3, demand curve CAD represents a market in which oligopolists will match the price changes of rivals and demand curve EAB represents a market in which oligopolists will ignore the price changes of rivals. According to the kinked demand model, the relevant demand curve will be
A. demand curve CAB. B. demand curve CAD. C. demand curve EAD. D. demand curve EAB.
Data on output and planned aggregate expenditure in Macroland are given below.Output (Y)Planned Aggregate Expenditure (PAE)2,0002,3003,0003,2004,0004,1005,0005,0006,0005,900 Based on these data, the short-run equilibrium level of output is:
A. 4,100. B. 5,000. C. 3,200. D. 2,000.