Which of the following is NOT a restriction the government imposes to keep potential entrants out of a market?
A. patents
B. copyrights
C. assistance with opening new firms
D. tariffs
Answer: C
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When a firm is experiencing decreasing marginal costs, it implies
a. marginal productivity is decreasing b. workers are getting more unproductive c. a constant marginal productivity d. increasing marginal productivity
The actions of speculators in a market tend to shift the ____ when the price of the good is low and thereby ____ the price
a. demand curve out; raise b. demand curve in; lower c. supply curve out; lower d. supply curve in; raise
These are the cost and revenue curves associated with a monopolistically competitive firm.
According to the graph shown, area A represents:
A. profits earned in the short and long run. B. profits earned in the short run. C. consumer surplus. D. profits earned in the long run.
Getting a college degree is an example of investing in:
A. human capital. B. technology. C. physical capital. D. research and development.