Based on the graphic for perfect competition versus monopoly, the consumer surplus for perfect competition is ______ the welfare for perfect competition.
a. greater than
b. less than
c. equal to
d. the opposite of
c. equal to
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Primary assets held by the Federal Reserve are
a. loans to commercial banks. b. U.S. government securities. c. Federal Reserve notes. d. reserve deposits by banks.
Competition between oligopolists drives:
A. price and profits down to below the monopoly level. B. price and profits down to the perfect competition level. C. some firms out until the market becomes a monopoly. D. collusion to happen frequently.
Suppose the 12-month interest rate on a U.S. Treasury bill is 16 percent, and the one-year interest rate on a comparable British Treasury bill is 6 percent. The exchange rate today is $2.00 per pound. What must be the expected exchange rate at maturity for interest rate parity to hold?
a. $1.00 = 0.50 pound b. $1.00 = 0.75 pound c. 1 pound = $2.20 d. 1 pound = $1.80 e. 1 pound = $2.50
Points inside the production possibilities frontier represent feasible levels of production
a. True b. False Indicate whether the statement is true or false