Evidence generally suggests that oligopolies inhibit technological advances.
Answer the following statement true (T) or false (F)
False
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If production involves decreasing opportunity cost, the production possibilities frontier
A. is “bowed inward.” B. is a straight line. C. is “bowed outward.” D. is a wavy line. E. has an unpredictable shape.
In regression analysis, the explanatory variables
A) are always price and income. B) are the variables whose variations are to be explained. C) are the factors that are thought to affect the dependent variable. D) are used to explain the random error term.
Diseconomies of scale exist for all of the following reasons except:
a. bureaucratic inefficiencies. b. management problems. c. failures in information flows. d. firm size is too small. e. organizational problems.
Consumption expenditures consists of
A) Purchases of food. B) Purchases of automobiles. C) Purchases of airline tickets. D) All of the above.