Answer the following statements true (T) or false (F)
1) A dominant firm's residual marginal revenue curve is always linear and downward sloping.
2) A dominant firm's residual demand lies above the market demand.
3) To maximize profit, the dominant firm produces the quantity that sets its marginal cost equal to its residual marginal revenue.
4) The residual demand curve and the residual marginal revenue curve represent a dominant firm's demand and marginal revenue.
5) To maximize profit, a dominant firm sets residual demand equal to marginal cost.
1) FALSE
2) FALSE
3) TRUE
4) TRUE
5) FALSE
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A major difference between units of production in industrialized and nonindustrialized societies is
A) the degree to which they are based on kinship. B) the degree of specialization of activity. C) the degree to which they are involved in noneconomic activities. D) all of the above. E) none of the above.
Religious symbols generally have a single meaning for all members of a religion
Indicate whether the statement is true or false
Academic and applied anthropology have a symbiotic relationship, as theory aids practice and application fuels theory.
Answer the following statement true (T) or false (F)
The phyletic gradualism model of evolution assumes that the rate of evolutionary change is characterized by:
A. abrupt changes followed by periods of no change at all B. slow but constant change C. rapid but constant change D. alternating patterns of rapid and slow periods of change