In a Bertrand model with identical firms and a non-differentiated product, price will increase in response to
A) an increase in the number of firms.
B) a decrease in the number of firms.
C) an increase in marginal cost.
D) a decrease in marginal cost.
C
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Use the following table to answer the next question.Current AccountFinancial AccountCapital Account-$753,438 $30,696One possible explanation for this situation is ________.
A. people in other countries prefer buying U.S. financial assets B. people in other countries prefer imported goods to domestic goods C. domestic residents have a preference for domestic non-produced assets D. people in other countries prefer to consume their income rather than save it
Which of the following is likely to shift the demand curve for carpenters leftward, assuming all else equal?
A) A fall in the wage rate of carpenters B) A fall in the price of the tools used by carpenters C) A rise in the wage rate of carpenters D) A rise in the price of the tools used by carpenters
The view that population growth occurs when real GDP per person exceeds the amount necessary to sustain life is part of the ________
A) classical growth theory B) modern theory of population growth C) neoclassical growth theory D) new growth theory
By 1860, over one-half of all Southern farms utilized slave labor
Indicate whether the statement is true or false