In the dollar-pound market, the equilibrium price of the pound will change
a. only when there is a shift of the demand curve for pounds
b. only when there is a shift of the supply curve for pounds
c. only when there are shifts of both the supply for pounds and demand for pounds curves
d. whenever there is a shift of either the supply or demand curves for pounds
e. whenever there is movement along either the supply or the demand for pounds curves
D
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While producing on the production possibilities frontier, if additional units of a good could be produced at a constant opportunity cost, the production possibilities frontier would be
A) bowed outward. B) bowed inward. C) positively sloped. D) a straight line.
If a firm raises funds by recruiting additional owners to invest in the firm,
A) the firm's stock price would decrease. B) the firm's financial capital would increase. C) the firm's financial capital would decrease. D) the firm's net worth would decrease.
Asymmetric information will always cause
A) efficiency problems. B) equity problems. C) Both A and B. D) None of the above.
The oligopoly market structure model is characterized by:
a. many firms in an industry producing differentiated products. b. many firms in an industry producing identical products. c. few firms in an industry with natural barriers to entry. d. a single firm in an industry with barriers to entry. e. many firms in an industry with barriers to entry.