Almost all economists agree that rent control
a. has no effect on the rental income of landlords.
b. allows the market for housing to work more efficiently.
c. adversely affects the availability and quality of housing.
d. is a very inexpensive way to help the most needy members of society.
c
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In a closed economy ________
A) investment equals consumption B) investment equals savings C) saving equals consumption D) exports are greater than imports
The characteristic of limited liability enables corporations to
A) avoid taxes on some of their profits. B) exist even when owners die. C) raise large amounts of financial capital. D) start up and dissolve easily.
Entry of new firms will occur in a monopolistic competitive industry until:
a. marginal cost equals zero. b. marginal revenue equals zero. c. marginal revenue equals marginal cost. d. economic profit equals zero. e. economic profit is negative.
A firm can always increase its output by one unit at a marginal cost of $10 . Its marginal cost curve is
a. a horizontal line. b. a vertical line. c. a ray with slope equal to 10. d. exactly one-tenth as steep as its total cost curve.