The demand curve for the product of a monopolistically competitive firm slopes downward because
A) products are perceived by consumers as different.
B) products are homogeneous.
C) people only care about price when they buy a good.
D) the firm's goal is to maximize profits.
A
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Households ________ final goods and services in the ________ market
A) purchase; product B) purchase; factor C) sell; factor D) sell; product
Advocates of the minimum wage
a. deny that the minimum wage produces any adverse effects. b. emphasize the benefits to teenagers of increases in the minimum wage. c. emphasize the low annual incomes of those who work for the minimum wage. d. All of the above are correct.
Recall the Application about the manufacture of fake killer whales used to scare sea lions off the Washington coast to answer the following question(s).Recall the Application. What is the indivisible input and what are its implications for economies or diseconomies of scale?
What will be an ideal response?
Which of the following represents an action by the Federal Reserve that is designed to decrease the money supply?
A. a decrease in the discount rate B. selling government securities in the open market C. a decrease in the required reserve ratio D. a decrease in federal spending