The monopolistic ally competitive seller's demand curve will become more elastic the:
A. Larger the number of competitors
B. Greater the degree of product differentiation
C. More significant the barriers to entry
D. Smaller the number of competitors
A. Larger the number of competitors
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If one person has the absolute advantage in producing both of two goods, then that person
a. must also have a comparative advantage in both goods b. cannot benefit from trade c. cannot have a comparative advantage in either good d. will have the comparative advantage in only one good e. should specialize in the production of both goods
A market structure in which only one firm has survived because of its economies of scale is called a
a. natural monopoly. b. planned monopoly. c. structural monopoly. d. free monopoly.
In a multiple regression model, the OLS estimator is consistent if:
A. there is no correlation between the dependent variables and the error term. B. there is a perfect correlation between the dependent variables and the error term. C. the sample size is less than the number of parameters in the model. D. there is no correlation between the independent variables and the error term.
If designed correctly, tournaments
A. always reward a single winner. B. reduce the applicant pool to just those workers with the best degrees. C. discourage competition. D. reward players according to their ranked productivity. E. elicit equal effort from all workers.