Although McDonalds operates in a market structure with many competitors and substitute foods, it often engages in ________ with its major fast food competitors
A) monopoly behavior.
B) oligopoly behavior.
C) competitive behavior.
D) none of the above.
B
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Suppose all firms in an industry are identical. In the long run, entry and exit guarantee that all firms will have zero
a. marginal cost. b. average cost. c. economic profit. d. accounting profit.
If average annual tuition at public 4-year colleges was $1,908 in 1990, when the CPI was 130.7, and $8,655 in 2012 when the CPI was 229.6, then the real cost of annual tuition
A) rose by 354 percent during that period. B) fell by 158 percent during that period. C) fell by 354 percent during that period. D) rose by 75.7 percent during that period. E) rose by 158 percent during that period.
A country would tend to experience currency depreciation relative to other countries if: a. the profitability of investments in other countries increases relative to that country
b. people in the foreign currency markets expect the value of the currency to fall in the near future. c. the foreign demand for its exports decreases. d. any of the above occurs.
What situation best explains why the government would impose price ceilings?
a. The government wants to help producers that have built up large amounts of debt. b. There are too many producers flooding the market with the good. c. Income substantially increases, which shifts the demand curve to the left. d. A series of substantial crop failures shift the supply curve of food to the left. e. Technological changes occur, shifting the supply curve to the right.