In which of the following industry structures is the entry of new firms the most difficult?
A. Pure monopoly.
B. Oligopoly.
C. Monopolistic competition.
D. Pure competition.
Answer: A
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Rick withdraws $500 from his savings account, keeps $100 as currency, and deposits $400 in his checking account
A. M1 increases by $400 and M2 decreases by $500. B. M1 does not change, but M2 decreases by $500. C. M1 does not change, but M2 decreases by $400. D. M1 increases by $500 and M2 does not change.
In the above figure, if this natural monopolist were unregulated, the profit maximizing firm would produce
A) at Q1 output rate. B) at Q2 output rate. C) at Q3 output rate. D) past the Q3 output rate.
A bank's reserve ratio is 8 percent and the bank has $1,000 in deposits. Its reserves amount to
a. $8. b. $80. c. $92. d. $920.
If a firm decides to make the investment decision to expand its capacity, then it must have discovered that
A. P = AVC. B. P = ATC. C. P > ATC. D. P > AVC.