The combination of two or more companies into a single firm:
a. start-up costs
b. merger
c. patent
d. monopoly
e. deregulation
Ans: b. merger
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Firms in monopolistic competition can achieve product differentiation by
A) expanding plant size. B) exploiting economies of scale in production. C) advertising special characteristics. D) setting the price equal to average revenue.
An economy has a current inflation rate of 7%. If the central bank wants to reduce inflation to 4% and the sacrifice ratio is 2, then how much annual output must be sacrificed in the transition?
a. 10% b. 8% c. 6% d. None of the above is correct.
Education is an investment in human capital.
Answer the following statement true (T) or false (F)
Refer to the scenario above. If they are the only bidders in the auction, Bill will continue to bid as long as bidding is below ________
A) $420 B) $210 C) $500 D) $625