Which requirement for perfect competition rules out trade associations or other collusive arrangements in which firms work together to influence price?
A. Freedom of entry and exit
B. Homogeneity of product
C. Perfect information
D. Numerous small firms and customers
Answer: D
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Capital outflows occur if:
A) domestic interest rates are higher than foreign interest rates. B) domestic interest rates are lower than foreign interest rates. C) domestic and foreign interest rates are the same. D) none of the above.
Use the following table to answer this question, which provides information on the production of a product that requires one variable input.InputTotal Product0015220332442550655758858956The average product generated with 5 units of the input is
A. 50. B. 8. C. 5. D. 10.
According to this Application, the recent result of the harmattan was to ________ the equilibrium price and ________ the equilibrium quantity of cocoa
A) increase; decrease B) decrease; increase C) increase; increase D) decrease; decrease
How does the natural rate hypothesis relate to the AS-AD model?
What will be an ideal response?