A firm that experiences economies of scale has a ______ average cost curve.
A. positively-sloped
B. negatively-sloped
C. U-shaped
D. flat
B. negatively-sloped
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Refer to the production possibilities frontier figure above. Which of the following movements requires the largest opportunity cost, in terms of good X forgone, per extra unit of good Y?
A) from point e to point d B) from point d to point c C) from point c to point b D) from point b to point a
Under a perfectly price discriminating monopolist, each consumer consumes ________ a perfectly competitive market.
A. the same amount of output as they would under a non-discriminating monopolist as well as B. less output than they would under an imperfectly price discriminating monopolist, but more than under C. more output than they would under an imperfectly price discriminating monopolist, but less than under D. the same amount of output as they would under
Antitrust activities can cause inefficiencies by:
A. breaking up a natural monopoly. B. creating many small firms that cannot capture available economies of scale. C. Both of these statements are true. D. Neither of these statements is true.
The supply curve of money shows, all other things unchanged, the
A) quantity of money supplied at each price of bonds. B) quantity of money supplied at each bond rate. C) quantity of money supplied at each interest rate. D) amount of money people supply at a specific interest rate.