Which of the following is NOT an example of natural monopoly?
A. water systems
B. electricity transmission
C. local telephone services
D. farm products
Answer: D
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Suppose a monopolistic competitor produces 1,250 units of a good in equilibrium and charges a price of $7.50 for each unit. If the average total cost of producing 1,250 units of the good is $8, what is the total loss incurred by the producer?
A) $0.50 B) $500 C) $625 D) $1.50
Distinguish between physical capital and financial capital and give two examples of each
What will be an ideal response?
Suppose that real GDP for 2015 was $10,000 billion and real GDP for 2016 was $11,000 billion. What is the rate of growth of real GDP between 2015 and 2016?
A) 1% B) 2% C) 5% D) 10%
The cumulative distribution function for a standard logistic random variable is a decreasing function.
Answer the following statement true (T) or false (F)