If the total cost curve gets steeper as output increases, the firm is experiencing
a. diseconomies of scale.
b. economies of scale.
c. diminishing marginal product.
d. increasing marginal product.
c
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Which of the following is the prime objective of an industrial policy for any country?
a. To secure a leading global role for selected domestic industries b. To promote and encourage the import of goods and services c. To secure the interests of migrant workers d. To encourage specialization of labor e. To ensure a high level of competition for domestic firms
Consider a profit-maximizing monopoly pricing under the following conditions. The profit-maximizing price charged for goods produced is $12.The intersection of the marginal revenue and marginal cost curves occurs where output is 10 units and marginal cost is $6 . The socially efficient level of production is 12 units. The demand curve and marginal cost curves are linear. What is the value of the
deadweight loss created by the monopolist? a. $4 b. $6 c. $12 d. $16
We would not consider ________ an act of capital investment.
A. a city government building a new fire station B. a company purchasing solar panels for its headquarters C. a florist delivering roses on Valentine's Day D. a son paying for his mother to go back to college
Which is more effective in blocking imports, a tariff or a quota?
What will be an ideal response?