Refer to Figure 2-18. Which two arrows in the diagram depict the following transaction: Lizzie Haxem hires "The Paint Pros," a professional painting company, to paint her home
A) K and G B) K and M C) J and G D) J and M
A
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A firm is most likely to experience economies of scale if its start-up costs are high and its marginal cost is ________.
A. high B. low C. decreasing D. increasing
The figure above shows the demand, marginal revenue, and marginal cost curves for Paul's Parrot Pillows, a single-price monopoly producer of pillows stuffed with parrot feathers. When Paul maximizes his profit, the price per pillow is
A) $70. B) $60. C) $40. D) $100. E) $30.
Money in the United States today includes _______
A. currency and deposits at both banks and the Fed B. the currency in people's wallets, stores' tills, and the bank deposits that people and businesses own C. currency in ATMs and people's bank deposits D. the banks' reserves and bank deposits owned by individuals and businesses
Which of the following is NOT a problem in the implementation of industrial policies?
A) Choosing the industry to target B) Knowing the optimum amount of resources to provide the targeted industry C) The encouragement of rent seeking by firms in other industries D) The benefits are partly captured by foreign firms. E) All of the above are problems.