An oligopolist cares very much about what other firms in her industry are doing
a. True
b. False
Indicate whether the statement is true or false
True
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In the figure above, the shift from DLF1 to DLF2 could result from
A) an increase in a government budget surplus. B) the economy entering a recession. C) the economy entering a strong expansion. D) an increase in the nominal interest rate. E) a decrease in the real interest rate.
If a product has zero external costs, then marginal social cost equal marginal private cost
Indicate whether the statement is true or false
Suppose demand decreases and supply increases. Which of the following will happen?
a. Equilibrium price will rise, fall, or stay the same while equilibrium quantity will decrease. b. Equilibrium price will rise, fall, or stay the same while equilibrium quantity will increase. c. Equilibrium quantity will rise, fall, or stay the same and equilibrium price will increase. d. Equilibrium quantity will rise, fall, or stay the same while equilibrium price will decrease. e. The change in equilibrium price and quantity cannot be determined.
Large federal budget deficits _____
Fill in the blank(s) with the appropriate word(s).