Monopolistic competition differs from oligopoly in that in monopolistic competition firms act independently while in oligopoly firms act interdependently
Indicate whether the statement is true or false
TRUE
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All of the following are sources of loanable funds EXCEPT
A) business investment. B) private saving. C) government budget surplus. D) international borrowing.
If Sam wants to increase her total revenue from her sales of flowers and she knows that the demand for flowers is price inelastic, she should
A) lower her price to increase the demand and shift the demand curve rightward. B) raise her price because she knows that the quantity demanded will also increase. C) raise her price because she knows that the percentage decrease in the quantity demanded will be smaller than the percentage increase in price. D) lower her price because she knows that the percentage increase in the quantity demanded will be greater than the percentage decrease in price.
Why is it considered "ideal" for price to just equal marginal cost?
Which of the following statements uses the term ceteris paribus correctly?
A) In economics, there are numerous theories, ceteris paribus. B) New York City is a major American city, ceteris paribus. C) The price of pineapples is low in Hawaii, ceteris paribus. D) The more ice cream you eat, the more weight you will gain, ceteris paribus. E) none of the above