Other things the same, as the price level falls, which of the following increases?
a. lending and investment spending
b. lending, but not investment spending
c. investment spending, but not lending
d. neither investment spending nor lending
a
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A perfectly competitive firm will shutdown when the price is just below the minimum point on the
A. marginal revenue curve. B. average variable cost curve. C. average fixed cost curve. D. marginal cost curve. E. average total cost curve.
A tit-for-tat strategy is one in which oligopolies
A) cooperate as long as other members cooperate, but if anyone cheats, they cut the price until the cheater reverts to cooperation. B) cooperate almost all of the time, but occasionally do not cooperate in order to fool the antitrust authorities. C) keep cutting prices to punish rivals until the competitive price is reached. D) try to avoid the problems of the prisoners' dilemma, but actually make themselves worse off.
The marginal revenue curve for a monopolist is the same as its demand curve
a. True b. False Indicate whether the statement is true or false
Over the last several decades, per capita world food production has
a. risen rapidly b. been stable c. risen at first, but then fallen d. risen slowly e. fallen continuously