Setting up outlet malls in rural highways is an example of
A. reduced consumer transactions cost.
B. increased consumer transactions cost.
C. increased producer transactions cost.
D. reduced producer transactions cost.
Answer: A
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Explain why firms in monopolistic competition have excess capacity in the long run
What will be an ideal response?
If both matches and automobile prices increase by 10 percent, consumers will likely buy
A. fewer matches and approximately the same quantity of automobiles. B. approximately the same quantity of matches and fewer automobiles. C. fewer matches and fewer automobiles. D. approximately the same quantity of both matches and automobiles.
Consider a regulated natural monopoly. If the regulatory commission wants to establish a fair-return price, then it should set a price ceiling where the demand curve crosses the monopoly's long-run:
a. marginal revenue curve. b. average revenue curve. c. marginal cost curve. d. average cost curve.
What is a reason not to protest poor working conditions in factories in low-income countries?
a. It would increase the price of goods imported into the United States. b. The working conditions are not that bad. c. The alternative job opportunities are worse. d. The protests have no effect on working conditions.