The reason the marginal cost curve eventually increases as output increases for the typical firm is because of:
A. Diseconomies of scale
B. Diminishing marginal utility
C. Diminishing marginal returns
D. Increasing opportunity cost
C. Diminishing marginal returns
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Mary has to choose between a four-day vacation and a five-day vacation to the same place. To arrive at the optimal choice, which optimization technique do you think will be arithmetically easier and faster to implement and why?
What will be an ideal response?
In a repeated game,
a. Cooperation is more likely than in a one-shot game b. Cooperation is less likely than in a one-shot game c. Cooperation can be either more or less likely than in a one-shot game d. The results are likely to be the same as in a one-shot game
Why did President Roosevelt declare a bank holiday in March 1933?
Critics of the regulation of natural monopolies contend that:
A. regulation increases the incentive of firms to lower costs. B. regulated firms may use creative accounting to reduce costs, prices, and profits. C. when rates of return are based on the value of real capital, an uneconomic substitution of labor for capital may occur. D. the industry may "capture" or control the regulatory commission.