A monopolistic competitor is in long-run equilibrium when
A) it is making zero profits and price equals marginal cost.
B) its average total cost curve is tangent to the demand curve at the profit-maximizing rate of output.
C) price is greater than marginal cost.
D) it is making positive profits or zero profits and price is greater than marginal cost.
B
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An indifference curve shows the combinations of two goods that yield the same level of utility.
Answer the following statement true (T) or false (F)
In exchange for a share of ZYX's profits if it succeeds, Firm ABC provides development funds to newly formed ZYX, which is developing an innovative product. ABC funds are called ____________, while ZYX is known as a ____________
A. venture capital; start-up B. retained earnings; entrepreneurial firm C. mutual funds; start-up D. transfer payments; entrepreneurial firm
Consumer surplus measures
A) the extra amount that a consumer must pay to obtain a marginal unit of a good or service. B) the excess demand that consumers have when a price ceiling holds prices below their equilibrium. C) the benefit that consumers receive from a good or service beyond what they pay. D) gain or loss to consumers from price fixing.
From the mid-1980s until late 2007, the less world's less volatile economies were probably due, at least in part, to good luck
a. True b. False Indicate whether the statement is true or false