The primary difference between marginal revenue product for the perfect and imperfect competitor is
A. the determination of the output price.
B. the effective use of capital.
C. the differences in calculation of total revenue.
D. the concept of marginal analysis.
A. the determination of the output price.
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Actual unemployment can exceed the natural rate of unemployment due to
A) cyclical unemployment. B) structural unemployment. C) frictional unemployment. D) all of the above.
Exhibit 15-7 Foreign exchange market for U.S. dollars and British pounds
Which of the following could cause the dollar-pound exchange rates to change as shown in Exhibit 15-7?
A. American goods become more popular in Great Britain. B. British incomes rise, while U.S. incomes remain unchanged. C. The U.S. price level rises, while the British price level remains unchanged. D. The U.S. real interest rate rises, while the British real interest rate remains unchanged.
A ballet performance had many empty seats. This implies that the
A. Price of the tickets must have been above the equilibrium price. B. Price of the tickets must have been very low because of the low demand. C. Hall where the performance was being held was very large. D. Ballet group was not very well known.
Suppose the nation of Alphonia was charged with dumping electric lawnmowers in the nation of Omegalon. The charge of dumping electric lawnmowers in the Omegalon market means that Alphonia was accused of:
A. selling faulty electric lawnmowers in Omegalon. B. selling electric lawnmowers below cost or below domestic prices. C. selling counterfeit-branded electric lawnmowers in Omegalon. D. discarding electric lawnmowers which would not sell in their home country.