Which of the following would cause an increase in the market supply of drones?
A) a decrease in the demand for drones
B) an increase in taxes levied on drones
C) an increase in the cost of components used to make drones
D) an increase in the number of firms making drones
Answer: D
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The implications of the zero economic profit condition in a perfectly competitive market implies that the opportunity cost of capital is integrated into the firm’s cost relationships.
Answer the following statement true (T) or false (F)
Which of the following is the best example of an intermediate good?
a. a tire purchased by an auto company b. a new house purchased by a newly married couple c. grain sold to foreign farmers d. All of the above are intermediate goods.
Which of the following describes a situation in which a good or service is produced at the lowest possible? cost?
A) marginal efficiency B) productive efficiency C) allocative efficiency D) profit maximization
In a multiple exchange-rate system, the government determines which kinds of transactions are to be conducted at which exchange rate.
a. true b. false