The United States typically experiences a large surplus of milk annually. This is caused by
a. a price ceiling in the market.
b. not enough demand for milk.
c. a price floor in the market.
d. overproduction of milk by the cows.
c
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Excess capacity refers to the:
A. amount by which actual production falls short of the minimum ATC output. B. fact that entry barriers artificially reduce the number of firms in an industry. C. differential between price and marginal costs that characterizes monopolistically competitive firms. D. fact that most monopolistically competitive firms encounter diseconomies of scale.
The field of economics that would be most concerned with a recent fall in interest rates is:
A. economic naturalism. B. microeconomics. C. marginal economics. D. macroeconomics.
Suppose the price of cheese has recently risen from $4 to $6 per pound, while the price of fruit has fallen from $8 to $6 per pound. During this time, Miguel's income has stayed fixed at $48 per week. Before the price changes, Miguel had been buying 4 pounds of cheese and 4 pounds of fruit per week. Since the price changes, he has been buying 2 pounds of cheese and 6 pounds of fruit weekly. Assuming Miguel's preferences have not changed, is it possible to say whether the price changes have made Miguel better off or worse off? Explain.
What will be an ideal response?
If the inflation rate was 10%, and the tax rate was 25%, and you deposited money in a bank account that paid 14%, what is after tax real interest rate? Show you work