Economists measure a market's domination by a small number of firms with a statistic called the
concentration ratio.
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Social Security is indexed by the CPI. As a result
a. it is "over-indexed.". b. it ignores inflation c. it is "under-indexed.". d. it is "un-indexed.". e. it is "over-subscribed.".
Which of the following statements is correct?
a. Monopolistic competition is similar to monopoly because both market structures are characterized by firms being price makers rather than price takers. b. Monopolistic competition is similar to perfect competition because both market structures are characterized by differentiated products. c. Monopolistic competition is similar to oligopoly because both market structures are characterized by strategic interaction between firms in the market. d. Monopolistic competition is similar to perfect competition because both market structures are characterized by perfectly elastic demand curves for firms.
The estimated regression equation is Y = 10 + 2.5X, if X =0 than the predicted value of Y is equal to:
A) 12.5 B) 10 C) 2.5 D) 7.5
Most companies that sell CDs by mail deliver in 1 to 2 weeks. Mosey Music, Inc, takes 4 weeks to deliver CDs. We should expect that Mosey Music
a. will lose all its customers b. will not lose customers because the good in question is CDs, not the delivery date c. will have to charge more for its CDs to make up for the business it loses through slow delivery d. will have to charge less for its CDs to compete with firms that deliver CDs faster e. will be able to charge the same amount for its CDs as other firms do, as long as the CD quality is the same