How long does it take for a check to clear?
(A) Three days
(B) Two days
(C) Four days
(D) One day
Ans: (B) Two days
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In some industries, like insurance, both small and very large firms coexist and compete quite effectively in the market. This indicates that the long-run average total cost curve in these industries
a. is "U" shaped. b. is downward sloping over all levels of output. c. exhibits constant returns to scale over a wide range of output. d. exhibits diseconomies of scale beginning at a low rate of output.
The Coase theorem asserts that private economic actors can solve the problem of externalities among themselves, without government intervention, regardless of whether those actors incur significant costs in reaching and enforcing an agreement
a. True b. False Indicate whether the statement is true or false
Exhibit 7-13 Price and cost per unit curves
?
In Exhibit 7-13, the firm's short-run supply curve is the marginal cost curve above point
A. A. B. B. C. C. D. D.
A motorist who decides to enter a busy expressway during the morning rush hour
What will be an ideal response?