A firm in a monopolistically competitive market determines the profit-maximizing output at which

A) MR = P.
B) MR = ATC.
C) MR = AVC.
D) MR = MC.


D

Economics

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Bananas cost about $1 a pound and ground beef costs about $3 a pound. If Jenna has $18 to spend on groceries and she only buys bananas and beef, which of the following is a possible combination of these goods that could maximize her total utility?

A) 18 lbs of bananas and 6 lbs of beef B) 10 lbs of bananas and 8 lbs of beef C) 8 lbs of bananas and 3 lbs of beef D) 3 lbs of bananas and 5 lbs of beef

Economics

Paul Bergen and Virginia Clancy each own a 100-acre soybean farm in Soyburg, Illinois. Together they grow 1/1000th of 1 percent of the nation's soybeans. When they merge, it will:

a. b and e. b. be a horizontal merger. c. reduce competition in the soy market. d. increase the market power of Paul and Virginia. e. probably go unnoticed outside of Soyburg.

Economics

Which of the following is a financial intermediary?

a. a mutual fund b. the stock market c. a U.S. government bond d. a wealthy individual who regularly buys and holds large quantities of government bonds

Economics

A deliberate change in the government's deficit

A) constitutes discretionary fiscal policy. B) leads to automatic stabilization. C) acts as a drag on the economy. D) is implemented by the Fed.

Economics