Entry of new firms will occur in a monopolistic competitive industry until:
a. marginal revenue equals marginal cost.
b. economic profit is negative.
c. marginal revenue equals zero.
d. economic profit equals zero.
e. marginal cost equals zero.
d
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Natural monopolies are ________ and ________
A) rival; excludable B) nonrival; excludable C) rival; nonexcludable D) nonrival; nonexcludable
Which of the following pairs of goods would be considered complementary?
a. Coca-Cola and Pepsi b. computers and computer software c. radios and televisions d. mass transit and private automobiles e. compact discs and cassette tapes
Borrowing VCU3 from an online company cause the nation's:
a. Monetary base to fall. b. M2 money supply to rise. c. M2 money multiplier to remain the same. d. M2 money supply to fall.
If the U.S. imposes a tariff on autos to prevent the Korean imports from freely entering the U.S. market, which of the following is most likely to occur?
A. The price of autos to U.S. consumers would rise, and the demand for U.S. wheat exports would increase. B. The price of autos to U.S. consumers would fall, and the demand for U.S. wheat exports would decrease. C. The price of autos to U.S. consumers would fall, and the demand for U.S. wheat exports would increase. D. The price of autos to U.S. consumers would rise, and the demand for U.S. exports would decrease.