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
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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
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.
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.
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