Perfect competition is more conducive to technological change than any of the other market structures.
Answer the following statement true (T) or false (F)
False
Monopolistic competition is more conducive to technological change because firms have some market power.
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Refer to the scenario above. What is the change in total revenue due to the price reduction?
A) The total revenue increases by $25. B) The total revenue increases by $50. C) The total revenue decreases by $105. D) The total revenue decreases by $175.
The government increases taxes. As a result, in the short run, real GDP ________ and the price level ________
A) increases; rises B) decreases; falls C) decreases; rises D) increases; falls
The Herfindahl-Hirschman Index measures
a. concentration in the industry. b. industrial average output. c. economies of scale. d. consumer confidence.
The consumer price index measures the prices of:
What will be an ideal response?