Refer to the above figure. Point C is known as
A. a peak.
B. a trough.
C. an expansion.
D. a contraction.
Answer: A
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The table above gives the demand for a monopolist's output. What is the total revenue in when 3 units of output are produced?
A) $21 B) $20 C) $18 D) $6
Unlimited liability exists when
A) the profits of the firm are taxed once. B) a firm dissolves when the owner dies. C) a corporation exists. D) the personal assets of the owner of a firm can be seized to pay off the firm's debts.
Microsoft is accused of which anticompetitive practice?
A. Interlocking directorates B. Illegal “bundling” of products C. Exclusive contracts D. Predatory pricing
For an economy as a whole,
a. wages must equal profit. b. consumption must equal income. c. income must equal expenditure. d. consumption must equal saving.