The typical firm in many industries has become ________ over the past 100 years, and efficiently organizing production has become ________
A) larger; easier B) larger; more difficult
C) smaller; easier D) smaller; more difficult
B
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Explicit costs include:
A. out-of-pocket costs. B. fixed costs. C. variable costs. D. All of these are included in explicit costs.
Price elasticity of demand is a useful tool for classifying firms that exist within the same market
Indicate whether the statement is true or false
Which of the following is illegal under the Clayton Act of 1914?
a. Price discrimination as a tool for exploiting market power. b. A person serving on the board of directors of only one company. c. Automobile dealers selling cars from different manufacturers. d. Companies such as fast-food franchisers that allow franchisees to buy inputs, uniforms, and training from a source other than the franchiser.
Other things equal, a decrease in government spending ________ the equilibrium interest rate and ________ equilibrium output.
A. decreases; decreases B. decreases; increases C. increases; decreases D. increases; increases