In a competitive market, one would expect to see
A) no advertising.
B) false advertising.
C) advertising only in the Sunday papers.
D) minimal advertising.
A
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Refer to Scenario 2. The marginal cost of the sixth unit of output is:
A) $1.33. B) $7.50. C) $8.00. D) $45.00.
If the "Marginal Congestion Cost" for a public good is constant then the optimal number of users is infinite
a. True b. False
If output falls, which of the following could be an explanation?
a. a rise in the interest rate b. a fall in foreign income c. a decline in government spending d. a rise in the interest rate, a fall in foreign income, or a decline in government spending
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
According to the graph shown, if this were depicting an autarky, the amount being bought domestically is:
A. 60 at $10 each. B. 115 at $14 each. C. 60 at $17 each. D. 150 at $10 each.