In the long-run the firm gets to choose which short-run curve it wants to use
a. True
b. False
Indicate whether the statement is true or false
True
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If the marginal social benefit exceeds the marginal social cost of producing the next kilowatt hour of electricity, then it is efficient to produce as many kilowatt hours as possible
Indicate whether the statement is true or false
The Ford Taurus and Ford Escort product lines (both produced by Ford) use many of the same parts in their cars, and the cars are, apart from design, virtually identical to one another, except for price. This suggests
a. a balanced oligopoly b. cartel pricing c. Ford's production inefficiency d. game theory pricing e. price discrimination
A plumber who quits his job in Indianapolis and moves to Orlando where additional plumbers are needed is said to be ___________________ unemployed
A) frictionally B) structurally C) cyclically D) underemployed
The United States has a mixed market economy.
a. true b. false