A firm's short-run supply curve is its marginal cost curve above the shut-down point.
Answer the following statement true (T) or false (F)
True
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In the resource market
A. businesses sell services to households. B. businesses borrow financial capital from households. C. households buy resources from businesses. D. households sell resources to businesses.
Which of the following is not considered as a unilateral transfer?
a. income earned from foreign investments b. foreign aid c. personal gifts to friends or family abroad d. institutional charitable donations e. government transfers to foreign residents
A market is contestable if
a. the number of firms is larger than oligopoly. b. firms spend a lot on advertising. c. there is free entry and exit. d. firms have kinked demand curves.
Menu costs help explain
a. sticky-price theory. b. misperceptions theory. c. sticky-wage theory. d. All of the above are correct.