Competing-interest legislation is characterized by
a. concentrated costs and concentrated benefits
b. concentrated benefits and widespread costs
c. widespread benefits and widespread costs
d. widespread benefits and concentrated costs
e. zero costs
A
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One reason that monopolistically competitive firms often use celebrity endorsements is that:
a. the firm owners like to be around celebrities so they can feel important. b. they can link their product's reputation with the celebrity's reputation. c. celebrity endorsements are comparatively inexpensive. d. they can have the celebrity as their potential customer. e. firms like to spend a lot on advertisements.
If workers always see inflation coming, and if they demand wage increases in advance so that inflation does not erode real wages, then the economy's aggregate supply curve on the AD-AS diagram will
a. be a vertical line corresponding to potential GDP. b. be a horizontal line corresponding to potential GDP. c. slope downward. d. slope upward.
A single firm that charges the monopoly price in the market earns $1,300. If another firm successfully enters the market, the incumbent's profits fall to $700 and the entrant earns $575. If the interest rate is 0.5, how high must the firm's profits from limit pricing be for limit pricing to be a profitable strategy for the incumbent?
A. ?L > $500 B. ?L > $200 C. ?L > $900 D. ?L > $1,000