The monopolistic firm's demand curve
A. is perfectly inelastic.
B. coincides with its marginal revenue curve.
C. is perfectly elastic.
D. is less elastic than a perfectly competitive firm's demand curve.
D. is less elastic than a perfectly competitive firm's demand curve.
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When a firm's long-run average cost curve is horizontal for a range of output, then that range of production displays
A) constant average fixed costs. B) decreasing returns to scale. C) increasing returns to scale. D) constant returns to scale.
Refer to the figure below, expenditures as a percent of GDP fell dramatically in the 1980s.
A. True
B. False
C. Uncertain
The basic forces driving the "invisible hand" are
a. government and business. b. information and computer technology. c. competition and self-interest. d. cooperation and altruism.
Many _________ businesses raise _________ of their capital through debt.
a. small; most b. small; none c. large; most d. large; none e. large; all