Refer to the diagram, which pertains to a purely competitive firm. Curve A represents:
A. total revenue and marginal revenue.
B. marginal revenue only.
C. total revenue and average revenue.
D. total revenue only.
D. total revenue only.
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Which of the following is NOT a government-run income maintenance program?
A) Social Security B) unemployment compensation C) temporary Assistance of Needy Households D) life insurance
In the long run, under conditions of perfect competition, the buyer will eventually be able to buy the product at a
a. price equal to the lowest point on the ATC curve past the optimal scale of operation. b. price below cost. c. price equal to the lowest point on the ATC curve at the optimal scale of operation d. discount.
Briefly discuss the following:
(a) Debt-equity swaps (b) IMF "conditionality" (c) LIBOR (d) Petrodollars
Which of the following is a new law on fishing imposed by the government to increase the total supply of fish?
a. Holders of fishing rights are not allowed to resell them to others. b. Governments have issued licenses that limit catches and fishing seasons. c. Quotas have enforced higher catches in coastal areas. d. Governments around the world have reduced their offshore jurisdictions.