Individual profit earned by Dave, the oligopolist, depends on which of the following? (i) The quantity of output that Dave produces (ii) The quantities of output that the other firms in the market produce (iii) The extent of collusion between Dave and the other firms in the market
a. (i) and (ii)
b. (ii) and (iii)
c. (iii) only
d. (i), (ii), and (iii)
d
Economics
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A. changing prices. B. running a restaurant. C. changing production. D. increasing aggregate demand.
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In the year 2000, per pupil expenditures on education in the United States were around _____
a. $4000 b. $5000 c. $6000 d. $7000
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In the circular-flow diagram, which of the following items represents a payment for a factor of production?
a. interest
b. capital
c. spending by households on goods
d. spending by households on services
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The overall increase in GDP that results from a $1 cut in taxes is called the
A. tax multiplier. B. base multiplier. C. fiscal multiplier. D. government spending effect.
Economics