In the United States, monopoly regulation began primarily because:
a. there were no natural monopolies in the real world.
b. the government wanted to promote other forms of business practices.
c. monopolies did not typically follow occupational and safety rules.
d. monopolies tended to restrict output and raise prices.
e. most economists believed that the majority of industries were following the purely competitive model.
d
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Suppose Sarah owns a small company that makes wedding cakes. The table below shows how Sarah's total cost varies depending on the number of wedding cakes she makes each day.Number ofCakes Per DayTotal CostPer Day0$1001$1802$2203$3004$4005$5206$660If the market for wedding cakes is perfectly competitive, and wedding cakes sell for $95 each, then at her profit-maximizing level of output, Sarah will earn a ________ of ________ per day.
A. loss; $100 B. profit; $15 C. loss; $15 D. profit; $285
A United States government patent lasts
A) forever. B) 50 years. C) 20 years. D) 7 years.
The forecasting technique which involves the use of the least squares statistical method to examine trends, and takes into account seasonal and cyclical fluctuations, is known as
A) compound growth rate projection. B) the Delphi method. C) time series projection. D) exponential smoothing projection.
To create deposits for clients to which it makes loans, a bank typically uses its
A. liabilities. B. required reserves. C. excess reserves. D. federal reserves.