Which form of imperfect competition is associated with the airline industry?
A) monopoly B) monopolistic competition
C) oligopoly D) none of the above
Answer: C
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Checking exchange rates, you find $1 equals 0.75 euros. Then the price of 1 euro is
A) $0.25. B) $0.75. C) $1.33. D) $4.30.
In principle, we can
a. ignore positive statements when choosing among various public policy alternatives. b. ignore normative statements when choosing among various public policy alternatives. c. confirm or refute positive statements by examining evidence. d. confirm or refute normative statements by examining evidence.
Suppose a perfectly competitive firm is producing 37 units output, and the marginal cost of the 37th unit is $3. If the firm can sell each unit of output for $5 and the firm's revenue is sufficient to cover its variable cost, the firm should:
A. raise its price. B. decrease production. C. lower its price. D. increase production.
A fall in inventories is synonymous with ________ investment
A) negative fixed B) positive fixed C) positive inventory D) negative inventory