Refer to the graph shown. The short-run equilibrium output level for the monopolistically competitive firm represented is:
A. 900.
B. 1,000.
C. 500.
D. 300.
Answer: D
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According to the late Julian Simon
A) legal immigrants have a favorable impact on the welfare of American citizens, but illegal immigrants have a negative impact. However, the positive effect of the legal immigrants is stronger than the negative impact of the illegal immigrants. B) legal immigrants have a favorable impact on the welfare of American citizens, but illegal immigrants have a negative impact that almost exactly offsets the positive effect of the legal immigrants. C) legal and illegal immigrants have a positive effect on the welfare of American citizens. D) legal and illegal immigrants have a negative effect on the welfare of American citizens.
Which of the following is an example of countervailing power at work?
a. The government monopolizes the United States Postal Service. b. Ford and General Motors join forces to raise prices. c. Compaq and IBM merge. d. Microsoft lowers price below cost to drive rivals out of business. e. Big business is met across the bargaining table by big labor.
The theory of the kinked demand curve is used to explain
a. bizarre corporate behavior. b. sales maximization. c. the maximin criterion. d. sticky prices in oligopolies.
Compared to traditional bank loans, microfinance loans have all of the following characteristics except
A. they are made more frequently to women than to men. B. they have repayments that begin at a much later date. C. they require no collateral. D. they are much smaller.