A business can escape perfect competition by building a better, more innovative product.
Answer the following statement true (T) or false (F)
True
With the iPod, Apple introduced a better, more innovative product into a competitive market, and was very profitable.
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The marginal product curve is a mirror image of
a. The average cost curve b. The average fixed cost curve c. The total cost curve d. The marginal cost curve
Suppose environmental groups pressure the local government to reduce the number of pollution rights to be sold. Other things equal,
a. pollution would not be affected b. the price of pollution rights would rise, and the amount of pollution would decrease c. the price of pollution rights would fall, and the amount of pollution would decrease d. the price of pollution rights would fall, and the amount of pollution would increase e. the price of pollution rights would rise, and the amount of pollution would increase
In the short run, the Federal Reserve faces a tradeoff between
What will be an ideal response?
Suppose a one-year discount bond offers to pay $100 in one year and currently sells for $99. Given this information, we know that the interest rate on the bond is
A) 11.1%. B) 10%. C) 5.3%. D) 9.9%.