In which market type does one find the most advertising
A) monopolistic competition
B) oligopoly
C) perfect competition
D) monopoly
A
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In the above figure, if the market is in equilibrium, area A + area B + area C equals
A) total surplus. B) consumer surplus. C) deadweight loss. D) producer surplus. E) total revenue.
The local banking industry currently has a Herfindahl-Hirschman index (HHI) value of 2175 and two of the competing banks have considered merging. Because the merger would raise the HHI by 25 points, the Federal Trade Commission would likely
A) challenge the merger. B) not challenge the merger. C) allow the merger under the condition that HHI does not rise by more than 25 points as promised. D) allow the merger under the condition that the HHI remain at the premerger level of 2175.
Capital is the
a. flow of new equipment that a firm acquires over the course of a year. b. amount of increase in a firm's equipment over a year. c. amount of money that a firm has on hand at a given time. d. stock of plant, equipment, and other productive resources held by a firm.
As the U.S. economy relies more and more heavily on the production of services rather than goods,
A. Mass unemployment will result. B. GDP will decrease since there will be less real production. C. Nearly all future job growth will be in service-producing industries. D. International trade will become more difficult.