Under which market model are the conditions of entry into the market easiest?
A. Pure monopoly
B. Monopolistic competition
C. Pure competition
D. Oligopoly
Answer: C
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One reason why the plants of multinational corporations abroad may have better standards than domestic contractors in low-income countries is because multinational corporations tend to reduce costs by using one standard in terms of capital equipment
and technology for all markets. Indicate whether the statement is true or false
The total cost of production equals
a. average total cost + average variable cost b. average total cost + average fixed cost c. average variable cost + average fixed cost d. total fixed cost + total variable cost e. marginal cost + total variable cost
Positive economics looks at outcomes of economic behavior and evaluates them as good or bad.
Answer the following statement true (T) or false (F)
When the slope of a demand curve is constant, price elasticity of demand can vary.
Answer the following statement true (T) or false (F)