Why is the scrotum located outside the body?
A. The atmospheric temperature is lower and is essential for sperm production
B. The vas deferens provides a longer pathway for the maturation of sperm
C. To keep the testes away from the infective potential of the digestive system
D. To protect the testes from abdominal trauma
Ans: A. The atmospheric temperature is lower and is essential for sperm production
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In monopolistic competition, each firm's marginal revenue curve lies ________ its demand curve because of ________
A) below; barriers to entry B) below; product differentiation C) above; barriers to entry D) above; product differentiation
Which of these goods may be considered rivalrous in consumption and nonexcludable?
A. wilderness areas B. national defense C. broadcast television reception D. fire insurance
In the short run, a perfectly competitive ball bearing manufacturer will continue to produce at a loss if
a. it is covering all of its fixed cost b. it is covering all of its variable cost plus part of its fixed cost c. variable cost is less than fixed cost d. fixed cost is zero e. fixed cost is minimized
Once profit is maximized at the output level where MR = MC, profit can be calculated by subtracting the ATC from price and multiplying the result by the quantity produced
Indicate whether the statement is true or false