In which of the following years was there a recession?
A. 1942
B. 1950
C. 1965
D. 1973
D. 1973
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The demand curve faced by the monopolist
A) has a constant price elasticity. B) is the industry demand curve. C) is identical to the firm's MR curve. D) is identical to the firm's TR curve.
In long run equilibrium, a perfectly competitive firm: a. can earn positive economic profits. b. earns zero economic profits
c. can earn negative economic profits. d. can do any of the above.
A 10-cent-per-box tax on producers of cigars will
a. shift the firm's ATC and MC curves upward by the full amount of the tax. b. induce the firm to produce less but will not shift the firm's MC curve. c. shift the firm's ATC and MC curves downward by the full amount of the tax. d. shift the MC curve upward but will not cause any shift in the ATC curve.
Which of the following is an example of a nondurable good?
a. A Sport Utility Vehicle b. A Bag of Cookies c. A Dishwasher d. None of the above are examples of nondurable goods.