In the new Keynesian models,
a. imperfect competition comes is the result of optimizing behavior by individuals.
b. perfect competition is assumed with respect to the product market
c. a natural monopoly is presumed for the product market.
d. both a and c.
d. None of the above
A
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Joanne left her last job, in which she was earning $50,000, in order to form her own consulting business. Her revenues for the first year of consulting were $200,000
During that year, she hired two assistants for $25,000 each and spent $25,000 on office equipment. In addition, she incurred $75,000 in miscellaneous expenses. Her economic profit that first year was A) $0. B) $50,000. C) $200,000. D) $75,000.
The group that benefited most from the bailout of General Motors and Chrysler was nonunion workers
Indicate whether the statement is true or false
For the fall semester, you had to pay a nonrefundable fee of $600 for your meal plan, which gives you up to 150 meals. If you eat 100 meals, your marginal cost of the 100th meal is:
A. $4. B. $0. C. $0.25. D. $6.
If the market price of eggs rises at the same time as the market quantity of eggs purchased decreases, this could have been caused by
A. an increase in demand with no change in supply. B. a decrease in supply with no change in demand. C. an increase in supply and a decrease in demand. D. an increase in supply and an increase in demand.