A decrease in competition within an industry can result in
a. more efficient resource allocation.
b. lower prices.
c. a firm wielding economic and political power.
d. increased output.
Ans: c. a firm wielding economic and political power.
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Ahmed is working and is spending more than he is earning by using his savings to make up the difference. Which of the following statements is TRUE?
A) Ahmed is in equilibrium since he pays all of his bills. B) Ahmed is in disequilibrium. C) By using savings Ahmed is using special drawing rights. D) By using savings Ahmed has caused the balance of payments to go into a deficit situation.
Those economists who view the AS curve as being vertical see more government tools capable of raising Real GDP than do the economists who view the AS curve as being upward-sloping
Indicate whether the statement is true or false
Refer to the above table. What is MC when output rises from 0 unit to 1 unit?
A. $90 B. $0 C. $25 D. $115
Refer to the information provided in Figure 5.7 below to answer the question(s) that follow.
Figure 5.7The above figure represents the market for pumpkins both before and after the imposition of an excise tax, which is represented by the shift of the supply curve.Refer to Figure 5.7. The amount the store owners will receive per pumpkin after paying the tax is
A. $1.75. B. $3.00. C. $4.25. D. $7.25.