Refer to the graph shown. The short-run equilibrium price for the monopolistically competitive firm represented is:
A. $0.85.
B. $1.00.
C. $0.95.
D. $0.60.
Answer: D
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The principal-agent problem occurs:
A. when the principal has less information than the agent. B. when the principal has more information than the agent. C. not observed in reality. D. when the agent has less information than the principal.
The effect of a government surplus on the equilibrium level of GDP is substantially the same as:
A. a decrease in imports. B. an increase in saving. C. an increase in consumption. D. an increase in investment.
Refer to the above table. The table represents information on the costs for Ajax Corporation. Ajax operates in a perfectly competitive market and the price of the product is $10. What does profit equal when quantity equals 4?
A) $4 B) $10 C) $8 D) $40
The slope of the supply of loanable funds is based on an increase in
a. only national saving when the interest rate rises. b. both national saving and net capital outflow when the interest rate rises. c. only national saving when the interest rate falls. d. both national saving and net capital outflow when the interest rate falls.