A firm must be able to ________ competition if it is to exercise control over the price of its product.
A. maximize
B. not change
C. limit
D. increase
Answer: C
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The following equations represent the demand and supply for bird feeders
QD = 35 - P QS = -5 + 3P What is the equilibrium price (P) and quantity (Q - in thousands) of bird feeders? A) P = $35; Q = 20 thousand B) P = $5; Q = 30 thousand C) P = $10; Q = 25 thousand D) P = $20; Q = 20 thousand
Elimination of riskless profit opportunities in the futures market is
A) hedging. B) arbitrage. C) speculation. D) underwriting.
A progressive tax is one for which the percentage of each added dollar of income paid in taxes
a. increases as income increases. b. remains the same as income increases. c. decreases as income increases. d. is zero after a certain maximum income is reached.
The courts in some states have declared the financing of public schools by local property taxes unconstitutional because
a. housing should never be the basis for taxation of any kind. b. taxes on real estate generate too much tax revenue. c. disparity in property values means some communities have more in tax revenues to spend on education than do communities containing less valuable property. d. the funds for public education should come from federal revenues, not from local property taxes.