EBay
A) will be considered a market when the Internet firms are profitable.
B) is a market because buyers and sellers are brought together to buy and sell.
C) cannot function as a market.
D) would be a market if there was only one physical location.
E) is not a market because buyers can buy from only one seller at any point in time.
B
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The indifference curve in the above figure
A) could illustrate a person's preferences for identical computer disks made by two different companies. B) could illustrate a person's preferences for right-handed and left-handed gloves. C) has a marginal rate of substitution that at first decreases and then increases. D) None of the above statements is correct.
The World Bank is an international organization that
A) promotes the growth of trade by setting rules for how tariffs and quotas are set by countries. B) makes loans to countries to finance projects such as dams and roads. C) makes loans to countries with balance of payment difficulties. D) helps developing countries that have been having difficulties in repaying their loans to come to terms with lenders in the West.
The perfectly discriminating monopolist will produce the
(a) quantity at which average cost exceeds marginal revenue. (b) quantity at which marginal cost equals average cost. (c) quantity at which marginal revenue equals marginal cost. (d) quantity and price which is not necessarily profit-maximizing but in the best interest of society at large, even if it means loss.
Large firms that invest in specific assets which cannot easily be redeployed to other uses or locations, may be able to protect their profits for longer than if they do not make such investments
Indicate whether the statement is true or false