Which of the following enhances the ability of waste companies to collude?
A. High interest rates
B. Differentiated nature of products
C. Large number of firms
D. Decals on waste receptacles
Answer: D
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“Optimal input curve analysis is useless. Since firms never know the demand for their product with certainty, they will rarely operate at the optimal input combination.” Agree or disagree?
What will be an ideal response?
In evaluating tax policy it is important to view tax policy as being designed by a benevolent overseer
a. True b. False
Which of the following groups derive the highest rate of return from the taxes they pay into the Social Security retirement system?
a. blacks b. whites c. Hispanics d. married women working full-time
Suppose the firm or firms in the market for Good A face a downward-sloping demand curve, maximize profit by producing the quantity at which marginal revenue equals marginal cost, set the price higher than the marginal cost, and break even in long run equilibrium. Which one of the following market structures most likely exists for Good A?
A. Perfectly competition. B. Monopoly. C. Monopolistic competition. D. Oligopoly.