Fannie Mae and Freddie Mac are important in the mortgage industry because:
a. They regulate banks to make sure their underwriting standards meet strict standards.
b. Their mandate is to develop a secondary market in U.S. mortgages.
c. Their mandate is to develop a secondary market in global mortgage markets.
d. Their mandate is to develop a primary market in the U.S. mortgage market.
e. None of the above.
.B
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________ is the market structure in which there are many rival firms producing differentiated products
A) Perfect competition B) Monopolistic competition C) Monopoly D) Oligopoly
The above figure shows a firm in monopolistic competition. What price will the firm charge?
A) $12 B) $24 C) $36 D) None of the above answers is correct.
Suppose new research shows that soy milk and other products derived from soybeans provide more health benefits than previously thought. At the same time, drought conditions result in extensive damage to the soybean crop
What will be the combined impact of these two factors on the equilibrium price and quantity of soybeans? A) Price will decrease, but the effect on quantity is indeterminate. B) Price will increase, but the effect on quantity is indeterminate. C) Quantity will decrease, but the effect on price is indeterminate. D) Quantity will increase, but the effect on price is indeterminate.
In the long run, what level of economic profits can a monopolistic competitor expect to receive?
A) positive B) zero C) negative D) either negative or positive, depending on the demand for its product and its costs