Lower taxes on businesses will shift the aggregate:
A. demand curve rightward.
B. demand curve leftward.
C. supply curve rightward.
D. supply curve leftward.
Answer: C
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Some economists have suggested that network externalities result in consumers being locked into the use of products with inferior technologies
Economists Stan Leibowitz and Stephen Margolis have studied cases that have been cited as examples of this and found A) that consumers use products with inferior technologies when their prices are lower than products with superior technologies. B) that in all of these cases network externalities resulted in market failure. C) there is no convincing evidence that the alternative technologies were superior. D) consumers sometimes do become locked into the use of products with inferior technologies.
In the above figure, the profit-maximizing rate of production for the perfectly competitive firm is
A) 5. B) 10. C) 13. D) none of the above.
For which of the following markets would the fallacy of composition most likely apply?
A. Orange market in Florida B. Labor market C. Gasoline market D. Poultry market
It is ________ profit maximizing for firms to dump in foreign markets
A) never B) sometimes C) always