The number of brands of identical products will most likely increase as
A) the number of informed consumers increases.
B) the cost of producing many brands decreases.
C) the number of uninformed consumers decreases.
D) None of the above.
B
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The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A
Using Scenario 1 calculate the total cost of pollution when both steel companies are allowed to pollute only one million gallons of thermal water each but the rights to pollute are genuine property rights sanctioned and protected by the government
and therefore tradable.
Why is price less than marginal revenue for a monopolist?
What will be an ideal response?
The difference between a firm's total revenues and total costs when all explicit and implicit costs are included is the firm's:
a. economic profit. b. accounting profit. c. opportunity cost of capital. d. long-run average total cost.