Which of the following is inconsistent with a monopoly?
a. a single seller
b. a downward-sloping demand curve
c. marginal revenue exceeds price
d. a U-shaped average total cost curve
c
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Refer to the figure above. Imports for this country equal
A) OA units of Z. B) AB units of Z. C) AC units of Y. D) AD units of Y.
Which of the following is NOT a common characteristic of a developing country?
A) extensive direct government control of the economy B) history of low inflation C) many weak credit institutions D) "pegged" exchange rates E) Agricultural commodities make up a large share of its exports.
Which best describes the lower endpoint of a confidence interval?
A. point estimate plus margin of error B. point estimate C. margin of error D. point estimate minus margin of error
Suppose Portugal has 700 workers and 26,000 units of capital, and France has 18,000 workers and 700 units of capital. Technology is identical in both countries. Assume that wine is the capitalintensive good and cloth is the laborintensive good. Which of the following statements is CORRECT if the nations start trading with each other?
a. Wages will increase in Portugal. b. Rental rates in France will increase. c. Wages in France will decrease. d. Rental rates in Portugal will increase