Products may be homogeneous or differentiated in the ________ market structure.
A. oligopolistic
B. perfectly competitive
C. monopolistic
D. monopolistically competitive
Answer: A
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Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C
Stockholders are residual claimants, meaning that they
A) have the first priority claim on all of a company's assets. B) are liable for all of a company's debts. C) will never share in a company's profits. D) receive the remaining cash flow after all other claims are paid.
The market supply curve for music downloads is Q = 135(P-1 ) where Q is millions of downloads and P is the price in dollars per track
If the current price is $1.20 per download, what is the change in producer surplus if the price increases by $0.20 per track? A) $5.4 million B) $8.1 million C) $10.8 million D) $27 million
Bertha holds some of her savings as currency and coins placed in her sewing basket. This is an example of
A) precautionary demand for money. B) asset demand for money. C) transactions demand for money. D) wealth demand for money.