When the value of operating authority fell to zero after trucking deregulation, that was a sign that deregulation would not work well
Indicate whether the statement is true or false
F Having the value of operating authority fall to zero because of trucking deregulation indicates that regulation created artificial value for the right to operate, and by eliminating that value deregulation returned the trucking industry to competitive condition.
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Pineapples and kumquats are substitute goods. Exceptional weather in Guatemala resulted in a bumper crop of pineapples. Ceteris paribus,
A. the price of kumquats will fall and the price of pineapples will increase. B. the price of both pineapples and kumquats will fall. C. the price of both pineapples and kumquats will increase. D. the price of kumquats will increase and the price of pineapples will fall.
Refer to the graph below. Suppose that the economy is at an initial equilibrium where the AD1 and AS1 curves intersect. Demand-pull inflation in the short run can best be represented as a shift of:
A. AS1 to the right
B. AD1 to the right
C. AS1 to the left
D. AD1 to the left
A firm's average total cost is $100, its average variable cost is $90, and its total fixed cost is $1,000. Its output is
A) less than 70 units. B) between 70 and 120 units. C) between 120 and 170 units. D) more than 170 units.
A monopoly firm can sell as much output as it wants at whatever price it sets
a. True b. False Indicate whether the statement is true or false