A monopolistic competitor takes a loss only in the ______________.
Fill in the blank(s) with the appropriate word(s).
short run
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Uni-Go Company makes motorized unicycles. Uni-Go is deciding whether to include a safety feature that would cost $6 for each unicycle
Uni-Go estimates the probability of death without the safety feature is 1/90,000 and the death cost per unicycle is $5.55. Uni-Go's cost-benefit recommendation is to A) add the safety device. B) not add the safety device. C) add the safety device plus additional safety devices. D) not produce the unicycle.
For a demand curve to be upward sloping, the good would have to be an inferior good, and
A) the income effect would have to be smaller than the substitution effect. B) the income effect would have to be larger than the substitution effect. C) the income effect would have to be equal to the substitution effect. D) the income effect and the substitution effect would have to be nonexistent.
Loss aversion can explain why very little ________ actually takes place in the securities market
A) short selling B) bargaining C) bartering D) negotiating
Based on the graph showing the crowding-out effect, the crowding-out effect ______ aggregate demand.
a. increases
b. decreases
c. eliminates
d. has no effect on