Product indifference curves bow inward toward the origin because of diminishing returns to substitution of inputs
a. True
b. False
Indicate whether the statement is true or false
True
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Use the following graph for a monopolistically competitive firm to answer the next question.
Marginal revenue and marginal cost intersect at point
A. a. B. b. C. c. D. d.
Compared to a sampling of other developed nations, the U.S. income distribution is more unequal than many others. What accounts for this?
A) The lowest-income families in the United States earn much less than the lowest-income households in other nations. B) Marginal income tax rates are much higher in the United States than in any other nation. C) The highest-income families in the United States earn much more than the highest-income households in other nations. D) Other nations manipulate their data to look better.
Which is the most accurate statement about the Federal Trade Commission?
A. It has never stopped a merger from taking place. B. It is the most powerful anti-trust agency in the federal government. C. Its job is limited to preventing false and deceptive advertising. D. It has a role in anti-trust enforcement.
Refer to the information provided in Figure 4.1 below to answer the question(s) that follow.
Figure 4.1Refer to Figure 4.1. At the price of ________ cents per apple, the United States imports 6 million apples per day.
A. 20 B. 30 C. 40 D. 60