If a firm collects $80 in revenue when it sells 4 units, $100 in revenue when it sells 5 units, and $120 in revenue when it sells 6 units, then one can infer the firm is a(n):
A. perfectly competitor.
B. monopolistic competitor.
C. monopolist.
D. oligopolist.
Answer: A
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Which of the following statements is true regarding utility?
a. Utility can be measured b. Utility cannot be measured c. Utility, at the margin, eventually increases as more of a good in consumed. d. A and C are true
If the unemployment rate increases from 4 percent to 10 percent, then the economy is mostly likely in a(n):
A. expansion. B. aggregation. C. recession. D. boom.
Some nations avoid the effects of trade deflection in a trade bloc by enforcing
A. quotas. B. trade diversion. C. trade deflection. D. rules of origin.
Refer to the information provided in Figure 4.5 below to answer the question(s) that follow.
Figure 4.5Refer to Figure 4.5. The United States will import 3 million CD-Rom drives if ________ tariff per CD-Rom drive is levied on imported CD-Rom drives.
A. no B. a $10 C. a $15 D. a $25