In the short run, a monopolistically competitive firm
a. must earn zero economic profit
b. may earn positive or negative economic profits
c. will produce output up at the point where TR = TC
d. will be protected from competition by barriers to entry
e. will equate price and marginal cost
B
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Throughout the world, poverty is greater among women than men, particularly women who head households
a. True b. False
If a good had a zero price (i.e., the good was free), a rational person would consume
A. The good until the marginal utility was maximized. B. The good until total utility was zero. C. An infinite amount of the good. D. The good until the marginal utility of the last unit was zero.
Under what conditions would this level be efficient at the regional level?
Hypothetically, suppose a recent study of hazardous waste abatement (A) arrives at the following national estimates for abating chemical solvents: MSB = 100 – 0.75A and MSC = 20 + 0.50A, where A is measured in millions of tons per year, and costs are measured in millions of dollars.
The Bank of Pitland, which is the highest financial institution in Pitland, has bought treasury bonds worth $2.2 billion from a private bank. How will this transaction affect the balance sheets of the private bank and the Bank of Pitland?
What will be an ideal response?