The demand for Cinnamon Toast Crunch brand cereal is:
A. less elastic than the demand for cereal in general.
B. equally elastic to the demand for cereal in general.
C. more elastic than the demand for cereal in general.
D. None of the statements is correct.
Answer: C
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A market in which the Herfindahl-Hirschman Index exceeds 1,800 is considered to be
A) competitive. B) not competitive. C) moderately competitive. D) purely competitive. E) either a monopoly or monopolistic competition.
Neutral technological progress occurs when
a. higher output levels are achieved with the same quantity and combinations of factor inputs. b. higher output levels are achieved by more capital intensive methods. d. higher output levels are achieved by more labor intensive methods. e. higher output levels are achieved.
Each of the following factors determine the value of a forecast except which one?
A) the accuracy of the forecast B) the slope of the marginal cost curve C) the variability of the firm's demand D) the slope of the average fixed cost curve
The agency responsible for regulating the U.S. monetary system is the
a. U.S. Treasury b. Federal Reserve c. Department of Justice d. Federal Trade Commission