Firms need to know the shape of a demand curve to use marginal analysis
a. True
b. False
Indicate whether the statement is true or false
False
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In the above figure, Mark's monthly budget line for movies and plays changed, as shown by the arrow. Responding to this change, Mark probably will see
A) fewer movies and fewer plays. B) fewer movies and more plays. C) more movies and fewer plays. D) more movies and more plays.
A monopolist sets its price
A. below the demand curve. B. without constraints since there is no competition. C. on the demand curve, at the rate of output where marginal revenue equals marginal cost. D. at the minimum of the long-run average total cost curve.
Which of the following is an important lesson to keep in mind during benchmarking?
A. Differences in environments of the benchmarked firms are not important. B. Benchmarked firms should be made aware of the said firm's motivation. C. Differences in the strength and activities of the labor unions should be taken into account. D. Differences in environments of the benchmarked firms should be taken into account.
Which of the following is not true about macroeconomic models?
A. They are based on theories of macroeconomic behavior. B. They attempt to identify key determinants of macro performance. C. They tend to agree with each other about how the economy works. D. They are mathematical summaries of the economy's performance.