If two perfectly competitive firms produce the same quantity at the market price, then, at that quantity, they must have the same
a. marginal cost and average total cost
b. marginal cost and average fixed cost
c. average total cost and average fixed cost
d. average fixed cost and average variable cost
e. marginal cost
E
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Which of the following would be studied by macroeconomists?
A. Inflation in developing countries. B. The effect of government subsidies on sugar prices. C. The impact of the minimum wage on families below the poverty level. D. The effect of rent controls on housing prices in New York City.
What is Moore's Law?
What will be an ideal response?
If an economy's depreciation is greater than its gross investment, then
A) net investment is negative and saving is negative. B) net investment is positive and saving is positive. C) net investment must equal saving. D) the economy's capital stock decreases. E) net investment is positive and saving is negative.
Theatres charge lower prices for a matinee and usually don't accept coupons for the night showing of movies because
A) consumers that attend the matinee have a higher price elasticity of demand. B) consumers that attend the night show have a lower price elasticity of demand. C) it increases profits compared to charging a single price. D) All of the above.