Which is not an example of capital at a book printing company?
a. the office building where the printing company is located
b. the paper on which books are printed
c. the oil used to heat the factory
d. the men and women who work in the accounting office
Ans: a. the office building where the printing company is located
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The value of one more unit of a good or service is its marginal benefit
Indicate whether the statement is true or false
According to the permanent income hypothesis, taxpayers react to a one-time tax rebate
A) by spending all of the tax rebate. B) by spending more than the amount of the tax rebate. C) by saving half of the tax rebate and spending the rest. D) by saving all of the tax rebate.
A major difference between a monopolist and a perfectly competitive firm is that
A) the monopolist is certain to earn economic profits. B) the monopolist's marginal revenue curve lies below its demand curve. C) the monopolist engages in marginal cost pricing. D) the monopolist charges the highest possible price that he can.
An oligopoly would tend to restrict output and drive up price if
a. barriers to entering the industry are negligible. b. firms engage in informative advertising. c. firms produce a standardized product. d. firms collude and behave like a monopoly.