In the above figure, if the market is competitive and unregulated, output will be
A) zero.
B) 50 units per week.
C) 150 units per week.
D) 250 units per week.
C
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In the circular flow model, the factor markets are the markets in which
A) consumption goods and services are bought and sold. B) government goods and services are provided. C) land, labor, capital, and entrepreneurship are bought and sold. D) investment goods and services are bought and sold. E) governments impose all their taxes.
Which of the following is true of a simultaneous move game?
A) Players choose their actions after knowing the action of the first player. B) All relevant benefits and costs of each action are taken into account. C) It involves strategic interactions among a large number of players. D) This game cannot be represented by a payoff matrix.
Factors that led to worsening conditions in Mexico's 1994-1995 financial markets, but did not lead to worsening financial market conditions in East Asia in 1997-1998 include
A) rise in interest rates abroad. B) bankers' lack of expertise in screening and monitoring borrowers. C) deterioration of banks' balance sheets because of increasing loan losses. D) stock market decline.
What is shown by the indifference map for two goods? Which indifference curve would a consumer want to be on?
Please provide the best answer for the statement.