Refer to the data. If there were 1,000 identical firms in this industry and total or market demand is as shown below, equilibrium price will be:
Answer the question on the basis of the following cost data for a firm that is selling in a purely competitive market:
A. $32.
B. $42.
C. $36.
D. $20.
C. $36.
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In a game theory model, how is Nash equilibrium achieved?
What will be an ideal response?
In macroeconomics, which of the following topics would most likely be studied?
A. The growth rate of the oil industry B. Bob's budget C. Unemployment in Mexico. D. Nike's costs of production
Surge in government demand (G) discourages some private demand (I) and this is a major reason as to why the oversimplified formula: 1/(1–MPC) ____________ the size of the multiplier.
A. exaggerates B. underestimates C. has no impact on D. none of these
As foreign currency becomes less expensive in terms of the U.S. dollar,
a. foreign goods become cheaper to U.S. citizens. b. foreign goods become more expensive to U.S. citizens. c. the U.S. demand curve for foreign currency shifts to the left. d. the U.S. demand curve for foreign currency shifts to the right.