The government may intervene when a specific business practice increases concentration in an already concentrated market.
Answer the following statement true (T) or false (F)
True
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Use the following graph (where L is the quantity of labor) to answer the next question.
It shows a firm that buys its inputs and sells its output in competitive markets. If the firm develops a new technology that increases labor productivity, the equilibrium level of employment for this firm is expected to be
A. higher than L0. B. L0. C. lower than L0. D. zero.
Suppose the actual federal funds rate is equal to the rate implied by a particular inflation goal. In this situation, the Taylor rule implies that
A) monetary policy will tend to produce that inflation rate. B) monetary policy is contractionary. C) monetary policy is expansionary. D) fiscal policy will result in a balanced budget.
The monopolistic competitor's demand curve is more _______ (elastic/inelastic) than a monopolist's demand curve.
Fill in the blank(s) with the appropriate word(s).
Economics is a:
a. Managerial science b. Business science c. Social science d. Natural science