If the demand curve of a perfect competitor is tangent to (just touching) the firm's average total cost curve,
A. the firm is definitely in the short run.
B. the firm is probably in the short run.
C. the firm is definitely in the long run.
D. the firm is probably in the long run.
C. the firm is definitely in the long run.
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The marginal social cost (MSC) function is the sum of the following:
a. market-level marginal abatement cost (MACmkt) + marginal cost of enforcement (MCE) b. marginal abatement cost (MAC) + marginal external cost (MEC) c. marginal abatement cost (MAC) + total social cost (TSC) d. market-level marginal abatement cost (MACmkt) + marginal external cost (MEC)
How might governments achieve an efficient provision of education?
What will be an ideal response?
The short-run aggregate supply curve shows the relationship between ____ and ____, holding all other factors constant
a. a price level, the quantity of real GDP supplied b. price level, the supply of real GDP c. nominal GDP, the price level of real GDP d. the quantity of nominal GDP supplied, the price level
An advantage of proprietorships is
A) the ease with which they can be formed and dissolved. B) their ability to raise large amounts of equity capital. C) the fact that their profits are not taxed. D) the breadth of management expertise that comes from having a board of directors.