The demand curve faced by a perfectly competitive firm is vertical
a. True
b. False
Indicate whether the statement is true or false
False
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Listed in the above table are the market shares for the firms in two different industries. Each industry has only eleven firms. Find the four-firm concentration ratio and the Herfindahl-Hirschman Index for each industry
What will be an ideal response?
An increase in taxes (when Ricardian equivalence doesn't hold) causes the real interest rate to ________ and the price level to ________ in general equilibrium
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
One major criticism of giving foreign aid to developing countries is:
A. the recipients of aid oftentimes have nebulous goals that are not measurable. B. there is little to no accountability once the funds have been dispensed. C. much of the money may be embezzled or otherwise funneled away from its intended recipient. D. All of these are major criticisms of foreign aid.
Table 11-1 Quantity (units)18161412104Price per unit (dollars)123 4 5 6 Total cost (dollars)44 3832262014Table 11-1 shows demand and total cost schedules for Monopoliteria. At its profit-maximizing level of output, Monopoliteria’s profit is
A. $10. B. $15. C. $22. D. $30.