If Happy Cleaners and Sparkle Cleaners are in a Cournot oligopoly and Happy Cleaners has a higher cost of production than Sparkle? Cleaners, in? equilibrium, Happy Cleaners will produce? ________ than Sparkle Cleaners and earn an economic profit that is? ________ Sparkle Cleaners.

Plot the demand for caviar given the following information on quantity consumed and total utility; then explain why caviar sells for such a high price.  Quantity (in ounces) Total Utility (in dollars) 1 50 2753 884 95 599?

What will be an ideal response?

In the long-run ISLM model and with everything else held constant, the long-run effect of a fall in net exports is to ________ real output and ________ the interest rate

A) increase; increase B) increase; not change C) not change; increase D) not change; decrease

Which of the following would make a reasonable hypothesis to test?

A) Rising inflation is bad for the U.S. economy. B) An inflation rate above 4% is dangerous for the British economy. C) As interest rates increase, eventually the inflation rate will decline. D) Increases in inflation are worse for the U.S. economy than are increases in public sector borrowing.

The Coase theorem asserts that private economic actors can solve the problem of externalities among themselves, without government intervention, regardless of whether those actors incur significant costs in reaching and enforcing an agreement

a. True b. False Indicate whether the statement is true or false