Compared to the market demand curve, a demand curve facing a monopolistically competitive firm would be
a. more elastic.
b. vertical.
c. horizontal.
d. the same as the market demand curve.
e. less elastic.
A
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Demand-side policies alone result in which of the following?
A. A shift of the Phillips curve to the left. B. A shift of the Phillips curve to the right. C. Stagflation. D. A movement along the Phillips curve.
One In the News article titled "Perceptions of Government Failure" indicates that people think that the government is not very trustworthy when it comes to solving domestic issues. If this is true, this is an example of
A. Government failure. B. The free-rider dilemma. C. Market failure. D. The problem of externalities.
"The number of species on earth is decreasing drastically and economic development is the main factor for the problem." Do you agree or disagree? Why?
What will be an ideal response?
Assume the total product of two workers is 80 and the total product of three workers is 90. The average product of three workers is ________, and the marginal product of the third worker is ________.
A. 160; 270 B. 10; 13.33 C. 30; 10 D. 10; 45