Granting all producers access to transmission lines opened up an effective market for electricity
Indicate whether the statement is true or false
F The transmission lines that public utilities constructed for their own use are not configured well for supporting a market for electricity, and the present grid system has congestion and other problems as it assumes a greater role in supporting electricity markets.
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Which of the following is a distinguishing characteristic of oligopoly?
A) A large number of firms compete. B) Each firm's actions influence the profits of all the other firms. C) Firms are free to enter and exit the industry. D) Natural barriers cannot prevent the entry of new firms.
Jan's Dry Cleaning holds $10,000 on a typical day, although only $2,000 is essential for carrying out business. Making a midday deposit is estimated to reduce cash holdings to $8,000 and cost an extra $80 per year in lost production. If, in addition, an armored car service is engaged to pick up cash more frequently for a fee of $120 per year, cash holdings will be further reduced to $6,000 per day. Employing a computerized cash management service for an annual fee of $180 would reduce cash holdings further to $4,000. If any reduction in cash holdings will be invested in government bonds earning 3 percent, then how much money should Jan's hold?
A. $8,000 B. $4,000 C. $6,000 D. $10,000
A situation in which output decreases while prices increase is often referred to as:
A. inflation. B. negative economic growth. C. a recession. D. stagflation.
Refer to the graph shown. If the price were somehow held at $8.15 per unit, consumer surplus would then equal:
A. 1,171.5. B. 600. C. 423.5. D. 1,400.