In peak-load pricing, once capacity is reached, the firm's short-run marginal cost curve becomes ________.
A) negative
B) vertical
C) horizontal
D) upward sloping
C) horizontal
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From a society’s viewpoint, when all resources are fully employed, a decision to have more of one thing means we must give up something else.
Answer the following statement true (T) or false (F)
An appreciation of the U.S. dollar
A) makes our exports more expensive in terms of foreign currency and imports cheaper in terms of the dollar, increasing net exports. B) makes our exports more expensive in terms of foreign currency and imports cheaper in terms of the dollar, decreasing net exports. C) makes our exports less expensive in terms of foreign currency and imports cheaper in terms of the dollar, increasing net exports. D) makes our exports less expensive in terms of foreign currency and imports cheaper in terms of the dollar, decreasing net exports.
The above table has data from the nation of Atlantica. Based on these data, when disposal income equals $3.0 trillion,
A) dissavings equals $1.0 trillion. B) savings equals $3.0 trillion. C) dissavings equals $4.0 trillion. D) savings equals $4.0 trillion. E) savings equals $1. trillion.
The concept of market structure refers to three main characteristics of buyers and sellers in a particular market. These include ____
a. the degree of seller and buyer concentration in the market b. the degree of actual or imagined differentiation between the products or services of competing producers c. the pricing behavior of the firms d. a and b e. a, b, and c