Like the monopolist, the monopolistically competitive firm:
A. sets the price where marginal cost equals marginal revenue; the demand curve doesn't matter.
B. is a price taker.
C. faces a downward sloping demand curve.
D. All of these statements are true.
Answer: C
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The town of Marble Falls has 10 workers, of which 8 were employed and 2 were actively seeking work. After many months of seeking work, one of the unemployed workers became discouraged and stopped looking for work six weeks ago
The unemployment rate in Marble Falls is now A) 10%. B) 11.1%. C) 12.5%. D) 20%.
A country's production possibilities will grow if it
a. produces more guns than butter. b. lowers its opportunity costs. c. makes more trade-offs. d. increases its resources.
The primary determinant of the level of consumption and saving in the economy is the:
a. Level of income b. Interest rate c. Level of prices d. Level of investment
Why have health care costs risen so much in recent years?
What will be an ideal response?