The monopolistic competition market structure is characterized by a few large firms which account for a large percentage of industry sales
a. True
b. False
Indicate whether the statement is true or false
False
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A form of business whose profits are taxed twice is
A) a proprietorship. B) a partnership. C) a corporation. D) either a proprietorship or a partnership, depending on other information.
The above table shows marginal costs and marginal benefits of clean air in a particular industrial area. In the table, when the quantity of clean air is at 25 percent
A) the quantity of polluted air is 25 percent. B) the marginal benefit of clean air exceeds the marginal cost. C) the marginal benefit of clean air is less than the marginal cost. D) the quantity of clean air is optimal.
How does the equilibrium quantity traded change when there is an increase in supply and a decrease in demand?
If two goods are complementary goods, then
A. The cross-price elasticity sign is not important. B. The cross-price elasticity sign will be negative. C. The cross-price elasticity will be greater than 1. D. The cross-price elasticity sign will be positive.