Economists measure the degree to which consumers win when Walmart comes to a city by looking at changes to
A. consumer spending.
B. producer surplus.
C. elasticity of demand.
D. consumer surplus.
Answer: D
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The study of the decisions of individual units in the economy is known as
A) macroeconomics. B) microeconomics. C) the study of incentives. D) ceteris paribus study.
According to new growth theory, firms accumulate the efficient level of both physical and knowledge capital
Indicate whether the statement is true or false
To maximize expected profit, a perfectly competitive firm with a random marginal cost and known demand should produce at the level that sets ________ equal to ________.
A) marginal cost; marginal revenue B) expected marginal cost; marginal revenue C) expected marginal cost; expected marginal revenue D) marginal cost; expected marginal revenue
The largest merger in the history of the world was between _______ and _________.
Fill in the blank(s) with the appropriate word(s).