Exhibit 8-1 Quantity and total revenue data for a firm
Quantity
Total Revenue
0
$ 0
1
62
2
124
3
186
Exhibit 8-1 indicates that this firm is operating in which type of market structure?
A. The market structure cannot be determined from the information given.
B. monopoly
C. perfect competition
D. monopolistic competition
Answer: C
You might also like to view...
Which of the following is a consumption good or service?
A) a United Parcel Service truck delivering Christmas gifts B) a personal computer purchased in order to play games at home C) a satellite dish installed by Cox Cable to download programs that are then distributed through its cable system D) a United Airline ticket counter E) the Endeavor space shuttle
For the federal government, what is the difference between discretionary spending and mandatory spending? What categories of spending account for the largest amount of the federal government's discretionary spending and mandatory spending?
What will be an ideal response?
If currencies around the world are based on the gold standard, and Japan raises the amount of gold for which the yen will trade, then holding all else constant,
A) the value of U.S. exports to Japan in terms of the yen will increase. B) the value of the yen relative to the dollar will stay constant. C) the yen will appreciate against the dollar. D) the yen will depreciate against the dollar.
In a booming economy, discretionary fiscal policy:
A. can be added to the automatic stabilizers effects of policies already in place. B. often acts counter to the automatic stabilizers that already exist. C. removes the effect of the automatic stabilizers that already are present. D. All of these are true.