Refer to Scenario 10.2. What level of output maximizes total revenue?
A) 0
B) 90
C) 95
D) 100
E) none of the above
D
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The process by which union members and the firm's management negotiate a contract is called
a. settlement negotiation b. collective bargaining c. a union contract d. collection arbitration e. settlement bargaining
If one firm left a duopoly market where the firms did not cooperate then
a. price and quantity would rise b. price would rise and quantity would fall. c. quantity would rise and price would fall. d. quantity and price would fall.
Economists use the term "utility" to refer to the usefulness of a good or service, and so consequently aesthetic products like art, music, and vacations have no utility
Indicate whether the statement is true or false
Investment is a
a. small part of real GDP, so it accounts for a small share of the fluctuation in real GDP. b. small part of real GDP, yet it accounts for a large share of the fluctuation in real GDP. c. large part of real GDP, so it accounts for a large share of the fluctuation in real GDP. d. large part of real GDP, yet it accounts for a small share of the fluctuation in real GDP.