In long-run equilibrium, a profit-maximizing firm in a monopolistic ally competitive industry will produce the quantity of output where:
A. ATC = P, MR = MC = P
B. ATC
D. ATC = P, MR = MC
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When comparing market and public sector decision making, which statement is NOT true?
A) Self-interest is the motivating force in each decision making arena. B) In both decision making sectors, majority rule is how things are done. C) In both decision making sectors, there are scarcity constraints. D) Collective (political) outcomes and economic outcomes may differ.
If getting people off welfare could be described as a carrot-and-stick approach, it would be fair to say that
A. liberals and conservatives both favor the stick. B. liberals and conservatives both favor the carrot. C. liberals favor the carrot and conservatives favor the stick. D. liberals favor the stick and conservatives favor the carrot.
The market supply of labor depends on the
a. number of employers b. marginal revenue product of labor c. price of the product being produced d. number of available workers
What will happen to the U.S. dollar price of a euro and the quantity of euros exchanged when the demand for the euro increases, but the supply does not change? Has the U.S. dollar appreciated or depreciated?
Please provide the best answer for the statement.