Which of the following firms have no market power?
A. clothing companies
B. fast food chains such as McDonald's
C. theme parks
D. gold panners during the gold rush
Answer: D
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Recall the Application. The experiment conducted by Blinder showed that the actual process of having committee meetings and discussions
A) improved the group's overall performance. B) tended to polarize the group into two distinct factions. C) magnified the individual group member's differences. D) related to the average performance of the individual group members.
Excess capacity exists when a firm produces
A) more than the profit-maximizing level of output. B) less than the quantity that minimizes average total cost. C) less than the quantity that minimizes marginal cost. D) more than the quantity that minimizes marginal cost. E) None of the above answers is correct.
The U.S. income tax is currently a __________ tax
A) progressive B) proportional C) regressive D) proactive
Suppose you transfer $2,000 from your money market mutual fund account to your checking account. What is the immediate impact of this transfer on M1 and M2?
What will be an ideal response?