Rivalry among firms would tend to be high if
a. Customers are locked into the competitors technology
b. Customers can easily switch between competitor's technologies
c. All of the above
d. None of the above
b
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The difference between GNP and NNP is accounted for by:
(a) Depreciation; (b) Net factor income from abroad; (c) Indirect Taxes/subsidies; (d) Transfer Payments.
The LM curve shifts down (or, equivalently, to the right) when which of the following occurs?
A) an increase in taxes B) an increase in output C) an open market sale of bonds by the central bank D) an increase in consumer confidence E) none of the above
Marginal costs reflect changes in variable costs.
Answer the following statement true (T) or false (F)
Discuss the benefits and opportunity costs of government farm subsidies.
What will be an ideal response?