Which of the following is correct for a monopolistically competitive firm in long-run equilibrium?
A. MC = ATC.
B. MC exceeds MR.
C. P exceeds minimum ATC.
D. P = MC.
Answer: C
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The idea that policy actions have no real effects in the short run if they are anticipated and no real effects in the long run is called the
A) adaptive proposition. B) activism proposition. C) Keynesian proposition. D) policy irrelevance proposition.
Who said this: "The most hated sort, with the greatest reason, is usury, which makes a gain out of money itself, and not from the natural objects of it. For money was intended to be used in exchange, but not to increase at interest…of all modes of getting wealth this is the most unnatural."
A. Aristotle B. Moses C. Benjamin Franklin D. Frank Knight
Which panel of Figure 3.3 represents the changes in the market for textbooks when the cost of paper decreases and the government increases the number of student loans it grants?
A. A. B. B. C. C. D. D.
A general equilibrium analysis of a price change in the corn chip market would include an investigation of the impacts in
A) the television market. B) the coffee market. C) the salsa market. D) All of the above.