Increasing opportunity cost while moving along a production possibilities frontier is the result of
A) taxes.
B) firms' needs to produce profits.
C) the fact that it is more difficult to use resources efficiently the more society produces.
D) the fact that resources are not equally productive in alternative uses.
D
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According to William Shepherd's examination of competitive trends in the U.S. economy, a tight oligopoly
a. is a single firm that controls the entire market and can block entry b. is an industry in which the top four firms supply more than 60 percent of the market, have stable market shares, and cooperate with each other c. is an industry in which the top four firms supply more than 60 percent of the market, have unstable market shares, and do not cooperate with each other d. is an industry in which a single firm has over half the market share and no close rival e. is an industry in which a single firm has over one-third of the entire market, the market share is stable, and the firm cooperates with other firms in the industry
A reduction in aggregate demand will normally reduce
a. prices. b. real GDP. c. employment. d. All of the above are correct.
Which of the following leads to monopolistic competition?
a. Fluctuation in the price of a product during a particular year b. The variety of styles, flavors, locations, and characteristics associated with a product c. A change in the total number of firms producing an identical product d. Government intervention in the form of license and quality control associated with a product
Your firm sells club soda in both grocery stores and convenience stores. You have a budget of $550 for store displays, and must decide how to allocate this budget between grocery stores and convenience stores to maximize the total number of sales. The following table shows the total number of units that can be sold in grocery stores and convenience stores, according to the number of displays in each type of store. Displays in grocery stores cost $150 each and displays in convenience stores cost $100 each. 
Given the above information, to maximize the total number of sales, you should choose
A. 3 grocery store displays and 4 convenience store displays. B. 3 grocery store displays and 3 convenience store displays. C. 1 grocery store display and 4 convenience store displays. D. 3 grocery store displays and 2 convenience store displays.