In the long run, the prices charged by a firm in monopolistic competition will be
A. high enough to provide profits to the firm.
B. so low that many firms will drop out of the industry.
C. equal to marginal cost.
D. equal to average cost, including the opportunity cost of capital.
Answer: D
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Suppose Jennifer has $42,000 in currency which she deposits in her bank. If the reserve ratio is 50 percent, this will lead to a maximum increase of ________ in M1 throughout all banks
A) $0 B) $21,000 C) $42,000 D) $84,000
The civilian labor force excludes anyone not actively seeking a job
a. True b. False Indicate whether the statement is true or false
Which of the following best describes the reason for studying economics?
a. Studying economics helps individuals, businesses, and governments make the best decisions. b. Studying economics helps individuals, businesses and governments understand the financial problems facing the world today. c. Studying economics gives businesses and governments the answers to economic problems. d. Studying economics only helps governments understand the major problems facing the world today.
Haley has 20 hours to devote to work or leisure. If she wants to increase her income, she must increase both her labor and leisure hours at the same time
a. True b. False Indicate whether the statement is true or false