Given the information in Figure 18.1, the competitive output in the corbomite industry is:
A) Q0.
B) Q1.
C) Q2.
D) any level as long as price is P0.
B
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Contractual inflexibility is most likely to slow price adjustment in the
A) money market. B) capital market. C) real estate market. D) labor market.
When testing joint hypothesis, you can use
A) the F- statistic B) the chi-squared statistic C) either the F-statistic or the chi-square statistic D) none of the above
If the index of prices paid by farmers is 140 and the index of prices received by farmers is 140, then the parity price ratio would equal
a. 100 b. 80 c. 120 d. 140 e. 0
As the price of a good rises:
A. firms generally decrease the supply of the good. B. government regulation becomes more justified. C. firms generally increase the supply of the good. D. more firms can cover their opportunity cost of producing the good.