Each firm in a perfectly competitive industry is
A) producing a unique product.
B) relatively large.
C) a price taker.
D) a price maker.
Answer: C
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Which statement is true?
A. On the production possibilities frontier, 85 percent of capital is employed. B. If we moved closer to the origin and further away from the production possibilities frontier, unemployment would increase. C. To have economic growth, we must push the production possibilities frontier outward. D. All of the statements are true.
Does it matter how much a developing country saves? Explain why or why not. Discuss theories and evidence on whether developing countries can increase the net savings rate in the economy through public policy
In particular, consider whether this can be accomplished through increased or decreased taxation of one or more types, and increased or decreased government spending of one or more types.
If the groups are equal size and the firm can only set one price, how should the firm price the high-end wok?
a. Price low and sell to both the users b. Price high and sell only to the professional chefs c. Price low and sell only to the home users d. All of the above
Use the supply and demand model to explain why the salaries of nurses in increasing?
a. Demand has increased while supply also increased. b. Demand has increased while supply decreased. c. Demand has decreased while supply decreased. d. Demand has decreased while supply increased.