According to economists, although a monopoly's price will be higher than a perfectly competitive firm's price when both produce the same good, the monopoly produces the good more efficiently
Indicate whether the statement is true or false
F
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All of the following would cause the production possibilities curve to shift outward EXCEPT
A) an improvement in technology. B) an increase in the amount of labor available. C) a decline in the unemployment rate. D) an increase in the level of capital stock.
Refer to Figure 10.2. Which line represents earnings?
A. a
B. b
C. c
D. h
A new firm enters a market which is initially serviced by a Cournot duopoly charging a price of $10. What will the new market price be should the three firms coexist after the entry?
A. Below $10 B. $10 C. Above $10 D. None of the answers is correct.
Local government expenditures depend on which taxes?
A) revenues from licenses and permits B) local property, sales, and excise taxes C) capital gains taxes D) Social Security taxes