If demand curve D2 represents a monopolistic competitor, then its demand would be __________ elastic than D1 but __________ elastic than D3.
A. less; more
B. more; less
C. less; less
D. more; more
A. less; more
You might also like to view...
Only "large" firms are able to sell __________ securities, with __________ yields than the securities the small and mid-size firms can sell
A) liquid; lower B) liquid; higher C) illiquid; lower D) illiquid; higher
In a perfectly competitive market a firm's rental rate for a machine (v) will be given by: v = P(r + d) where r is the prevailing rate of interest and d is the depreciation rate. In this formula P represents a. the present market price of the machine
b. the initial purchase price of the machine (assuming this differs from its present market price. c. the price of the firm's product. d. the depreciated value of the machine.
In economics, "capital" refers to
a. money b. stocks, bonds, and other financial assets c. the seat of government d. machines, buildings, tools, and knowledge e. net worth (assets minus liabilities)
One of the consequences of allowing wages to fall in the United States has been growing wage inequality
a. True b. False Indicate whether the statement is true or false