In 2000, Italy's per-capita GDP was ________ percent ________ than the EU-27 average.
A. 18; higher
B. 6; lower
C. 36; lower
D. 24; higher
Answer: A
Economics
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Which of the following conditions is characteristic of a monopolistically competitive firm in both the short-run and the long run?
a. P > MC b. MC = ATC c. P < MR d. All of the above are correct.
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For a monopoly, when the price effect outweighs the quantity effect of increased production:
A. the demand must be price inelastic. B. marginal revenue must be increasing. C. total revenues will increase. D. All of these statements are true.
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In the above figure, what is the equilibrium level of real consumption spending?
A. $2.0 trillion B. $3.0 trillion C. $0.0 trillion D. $1.0 trillion
Economics
What is the difference between explicit collusion and implicit collusion?
What will be an ideal response?
Economics