Which of the following firms is most likely to be a pure monopolist?
A. A grocery store in a large city
B. The only gas station in a small, isolated town
C. A clothing retailer with the best location in a mall
D. The most popular hot dog vendor on a city street corner
Answer: B
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A country has several factories that emit sulfur dioxide. The main methods that the government can use to overcome the accompanying environment externalities include all of the following EXCEPT
A) cap-and-trade. B) mandating clean technology. C) subsidies. D) taxes.
If nominal GDP rose by 10 percent and the price index increased from 100 to 105 in a given year, real GDP: a. rose by 15 percent
b. rose by roughly 9.5 percent. c. rose by 5 percent. d. fell by 5 percent.
Refer to the accompanying table. It is clear that diminishing returns sets in after ________ workers per day.Number of Workers Per DayOutput Per Day001328315424532639
A. 5 B. 3 C. 4 D. 6
Figure 7-8
Of the graphs in Figure 7-8, which represents fixed cost?
a.
1
b.
2
c.
3
d.
4