Oligopolistic firms
A. pay close attention to the actions of their rival firms.
B. are so few in number that at least one firm has some control over price.
C. charge a price that is higher than its ATC.
D. All of the choices are true.
D. All of the choices are true.
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A) change in his total utility; one additional book B) total utility he gets; one more book C) change in his total utility; more books D) consumer surplus he gets; books
In the 1980s, the number of bank failures increased dramatically in the United States, most of which were uninsured
a. True b. False Indicate whether the statement is true or false
Fixed costs are those costs that remain fixed no matter how long the time horizon is
a. True b. False Indicate whether the statement is true or false
Value added is the
A. Increase in market value of a product that takes place at each stage of the production process. B. Impact on third parties caused by market activities. C. Difference between nominal GDP and real GDP. D. Addition to GDP because nonmarket activities are captured.