The federal budget deficit can be reduced by
A) raising government spending. B) raising transfer payments.
C) higher interest rates. D) raising taxes.
D
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The situation in which the long-run average cost curve exhibits economies of scale over the entire range of output is called a "natural monopoly
" Explain why, in the case of a natural monopoly, it would be cost efficient to have a single firm serve the entire market.
When the economy slows down the:
A. demand for workers increases. B. supply of workers increases. C. demand for workers decreases. D. supply of workers decreases.
In theory, in the long run, monopolistically competitive firms earn zero profits.However, in reality there are some ways by which a firm can avoid losing profits. Which of the following is one such way?
A) gradually increase the mark-up on the goods produced B) lower the price of its products to expand its market share C) identify new markets and develop products precisely for those markets D) find a market niche and keep it as narrow as possible so as to prevent other producers from entering this market segment
What do sellers do if they expect the price of goods they have for sale to decrease dramatically in the near future?
a. sell the goods now and try to invest the money instead of resupplying b. sell the goods now but try to get the higher price for them c. store the goods until the price rises d. store the goods indefinitely regardless of when the price rises