It is more likely for tacit collusion to occur in the ________ market compared to the ________ market.
A) dog food; electric car
B) electric car; fast food
C) fast food; electric car
D) fast food; commercial airline
B) electric car; fast food
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The short-run supply curve for the perfectly competitive firm is that part of the marginal cost curve that lies above the average fixed cost curve.
Answer the following statement true (T) or false (F)
A distinguishing characteristic of a natural monopoly is that
a. the government restricts the number of firms to one for the industry b. the ATC curve is downward sloping over the entire production range c. the TC curve is downward sloping over the entire production range d. its demand curve is horizontal e. the industry's demand curve is also the firm's demand curve
Economists of the rational expectations school believe that if the economy is already producing its potential output, an expansionary monetary policy, if fully and correctly anticipated, will have no effect on output or employment
Indicate whether the statement is true or false
The human consequences of the Great Depression did not include
A. homeless families. B. closed factories. C. bankrupt farmers. D. soup lines. E. redistribution from the rich to the poor.