If a perfectly competitive market had 10,000 identical firms, the market supply curve would be ______ times the quantity supplied by each firm.
a. 5,000
b. 10,000
c. 20,000
d. 100,000
b. 10,000
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Tying is always profitable for a monopoly
a. True b. False Indicate whether the statement is true or false
Technology
A. does not have an effect on the amount of a good a society can produce with its given resources. B. is the recipe for combining land, labor, physical capital, and entrepreneurship to produce a good. C. only changes if resources change. D. is constantly changing at every point along a production possibilities curve.
Which of the following reasons why women earn less than men is considered by some to be economic, and by others to be sociological?
A. Women outnumber men. B. Women are the only ones who can give birth. C. The average man is physically stronger than the average women. D. Women are more likely to choose low-paying, "helping" professions.
Punitive damage awards, which do more than compensate for the losses of those injured, do not influence the safety efforts of makers of products
Indicate whether the statement is true or false