British manufacturers lost their competitive edge in the early twentieth century to industries in the United States and elsewhere in Europe mainly because they failed to reorganize their operations to take full advantage of their inventions
Indicate whether the statement is true or false
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Why is there a supply point and not a supply curve for a monopolist?
a. A monopolist cannot affect the market price by changing its supply. b. A monopolist produces a homogeneous product having similar substitutes. c. A monopolist equates the price which it charges with its marginal cost. d. There is only one quantity and price at which a monopolist operates. e. A monopolist supplies to a large number of consumers.
Managers and entrepreneurs are
A) the same. B) different. C) assume risk. D) always stockholders.
If Matthew raises the price of his muffins from $2 to $3 and his total revenue increases from $35,000 to $38,000 . then
a. the demand for Matthew's muffins in this price range is price elastic b. the demand for Matthew's muffins in this price range is price inelastic c. the demand for Matthew's muffins in this price range is unit elastic d. the percentage change in quantity demanded must exceed the percentage change in price e. we know this is impossible because it violates the law of demand
Discouraged workers are included in
a. the number of unemployed. b. frictional unemployment. c. the labor force. d. None of the above is correct.