The firm in the figure above is in monopolistic competition. It will produce
A) 10 units.
B) 20 units.
C) 30 units.
D) 40 units.
B
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Which of the following shifts the supply curve for good X leftward?
A) a situation in which quantity demanded exceeds quantity supplied B) an increase in the cost of the machinery used to produce X C) a technological advance in the production of X D) a decrease in the wages of workers employed to produce X
In cost-effectiveness analysis, constant cost studies:
a. are rarely used b. attempt to specify the output which may be achieved from a number of alternative programs, assuming all are funded at the same level c. are useless because they fail to adequately evaluate program benefits d. try to find the least expensive way of achieving a certain objective e. none of the above
The task of economic regulation is to:
a. protect monopoly profits. b. approximate the results of the competitive market. c. replace competition with government ownership. d. ensure laissez faire. e. increase competition within the market.
According to the Keynesian model, increased foreign spending for U.S. goods is likely to
a. reduce total employment in the United States. b. increase total employment in the foreign country. c. reduce total output in the United States. d. increase total output in the United States.