Which of the following was not a major factor in explaining the decline of death rates in the U.S. in the late 19th and early 20th century?
a. urbanization
b. improvements in sanitation
c. improvements in medical treatments
d. Both a and c are correct.
d. Both a and c are correct.
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U.S. factories produce ________ of the shoes New Balance sells in the United States
A) none B) about 25 percent C) roughly half D) about 75 percent
Which of the following is always true of monopolists?
a. They charge the highest possible price. b. They always earn high profits. c. They do not have to worry about demand. d. They charge a price higher than marginal cost.
For a perfectly competitive firm at its long-run equilibrium
A) P = MR = MC = AC. B) P = MR > MC. C) accounting profit must be zero. D) there are no opportunity costs to be concerned with.
As one moves down a straight-line, down-sloping demand curve, price elasticity will:
a. change from elastic, to unit elastic, then to inelastic. b. remain the same between any two points. c. change from inelastic, to elastic, then to unit elastic. d. change from unit elastic, to elastic, then to inelastic. e. change from elastic, to inelastic, then to unit elastic.