Think of a firm that has a monopoly producing milk. The firm's demand curve is
a. identical to the demand curve for milk facing the industry
b. identical to its marginal revenue curve
c. tangent to the firm's ATC curve
d. tangent to its marginal revenue curve
e. more elastic than the demand curve of any perfectly competitive firm producing milk
A
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The table above gives the labor market for a small foreign economy. A(n) ________ would create ________
A) minimum wage of $9.00; a decrease in job search. B) minimum wage of $5.00; an increase in job rationing. C) efficiency wage of $9.00; an increase in job rationing. D) efficiency wage of $8.00; unemployment and job rationing. E) union-negotiated wage of $7.50; unemployment and job rationing.
The above figure shows a labor market with minimum wage equal to $16. In this figure, what area equals the resources lost because of job search?
A) area A B) area B C) area C D) area D E) area E
Explain why the intersection of the best-response functions is the Cournot equilibrium
What will be an ideal response?
Small sample sizes in an experiment
A) biases the estimators of the causal effect. B) may pose a problem because the assumption that errors are normally distributed is dubious for experimental data. C) do not raise threats to the validity of confidence intervals as long as heteroskedasticity-robust standard errors are used. D) may affect confidence intervals but not hypothesis tests.