In a long-run equilibrium in a monopolistically competitive industry that produces information products, revenues are equal to the ________ costs of developing, producing, and selling the product
A) total
B) fixed
C) variable
D) marginal
Answer: A
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Advocates of active stabilization policies, in defense of their views, argue that
A. stabilization is less necessary than is commonly advocated by monetarists. B. discretionary policy in not necessary because automatic stabilizers are sufficient. C. perfect stabilization is not possible, but moderate improvements in economic performance are possible, such as the response to the events of September 11, 2001. D. All of these responses are correct.
Refer to the table below. If the cost per unit of advertising is constant at $325, what is the level of advertising per week that maximizes the industry joint profit?
Suppose the egg industry is made up of only the three farms above; Happy Chickens, Special Chickens, and Superior Chickens.
A) 1
B) 2
C) 3
D) 4
If the four-firm concentration ratio for industry X is 80:
A. the four largest firms account for 80 percent of total sales. B. each of the four largest firms accounts for 20 percent of total sales. C. the four largest firms account for 20 percent of total sales. D. the industry is monopolistically competitive.
Use the following graph of the demand for electric cars to answer the question below.
Refer to the three demand curves for electric cars. Which of the following would shift the demand for electric cars from D1 to D3?
A. an increase in the price of electric cars B. a decrease in the price of electric cars C. a decrease in the price of gasoline D. an increase in the price of gasoline