Perfect competition forms one extreme of the market structure spectrum.
Answer the following statement true (T) or false (F)
True
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Explain why the average total cost curve and the average variable cost curve get closer to each other as output expands
What will be an ideal response?
Colleges and universities often do not pay salaries that are market-driven. For example, it is typical for a history professor to make the same as an economics professor. What kinds of problems are likely to result from this kind of a pay scale?
What will be an ideal response?
The number of highly skilled and knowledge workers entering the workforce increases when
(a) firms substitute capital for high priced labor. (b) the market demands labor with advanced degrees. (c) the government cuts educational funding. (d) All of the above
Suppose bank A has assets of 100, liabilities of 80, and capital of 20. Its leverage ratio is
A) 4. B) 5. C) 10. D) 9.