A natural monopoly would benefit by being broken into many smaller firms
a. True
b. False
Indicate whether the statement is true or false
False
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John is trying to decide how to divide his time between his job as a stocker in the local grocery store, which pays $7 per hour for as many hours as he chooses to work, and cleaning windows for the businesses downtown. He makes $2 for every window he cleans. John is indifferent between the two tasks, and the number of windows he can clean depends on how many hours he spends cleaning in a day, as shown in the table below:Hours PerDay CleaningWindowsTotal Numberof WindowsCleaned0017211314416517What is the lowest price per window that would induce John to spend at least one hour per day cleaning windows?
A. $2 B. $3 C. $1 D. $7
The federal government buys $10 million worth of aircraft engines from General Motors. If the MPC is .80 what will be the impact on aggregate demand, other things being equal? a. Aggregate demand will increase $8 million
b. Aggregate demand will increase $12.5 million. c. Aggregate demand will increase $18 million. d. Aggregate demand will increase $50 million.
When prices for goods and services are quoted in money terms, this is an example of money being used as a store of value
a. True b. False Indicate whether the statement is true or false
A monopolistically competitive market
a. is imperfectly competitive, and all imperfectly competitive markets are monopolistically competitive. b. is imperfectly competitive, but not all imperfectly competitive markets are monopolistically competitive. c. is imperfectly competitive, whereas an oligopolistic market is not imperfectly competitive. d. is not imperfectly competitive.