Which of the following is not a problem associated with the U.S. federal budget process?
a. The congressional committee framework
b. The lengthy budget process
c. The failure to meet deadlines
d. The lack of detail in the budget
e. Uncontrollable budget items
d
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Economies of scale can benefit consumers to the extent that the costs of production incurred by the firms in the industry are lower than they would otherwise be
At the same time, the price-setting power of those firms is increased, which could hurt consumers. Indicate whether the statement is true or false
When a firm earns economic profit
A) accounting profits are zero. B) market share has be capitalized. C) other firms enter the market. D) total revenue has been maximized.
A group of firms working together and acting as a supplier of a product is called a cartel. A group of employees working together and acting as a single supplier of labor is called a
Figure 3.5 illustrates the supply of tacos. An increase in the number of Mexican food producers would most likely cause a movement from:
A. point a to point c. B. point c to point a. C. S2 to S0. D. S0 to S2.