The above figure shows a firm in monopolistic competition. At the profit maximizing level of output, excess capacity for the firm is equal to
A) 0 units per day.
B) 4 units per day.
C) 8 units per day.
D) 16 units per day.
C
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In the United States
A) there are more households with incomes below the mean income than above the mean income. B) there are more households with incomes above the mean income than below the mean income. C) the mode income equals the mean income. D) the income distribution is bell shaped.
When all costs and benefits in a cost-benefit analysis do not occur at the same point in time, a discount rate is used to _____
a. reduce the future costs and benefits relative to current costs and benefits b. increase future costs and benefits relative to current costs and benefits c. increase current costs relative to future benefits d. reduce future costs relative to current costs
An increase in productivity as a result of a new technology would cause the production possibilities frontier to:
A. shift in. B. shift out. C. not move until society chooses to move it. D. become more meaningful in policy decisions.
The major difference between the balance of payments and the foreign exchange market is that:
a. Actually, there is no difference. All sources of funds in the balance of payments are demands for foreign exchange and all uses of funds in the balance of payments are supplies of foreign exchange. b. Actually, there is no difference. All sources of funds in the balance of payments are supplies of foreign exchange and all uses of funds in the balance of payments are demands of foreign exchange. c. The balance of payments includes many more transactions than are included in the foreign exchange market. d. The foreign exchange market includes many more transactions than are in the balance of payments.