The supply curve for a perfectly competitive firm is its marginal cost curve for all levels of output
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
If the GDP chain price index in a given year is less than 100, real GDP in that year would be greater than nominal GDP
a. True b. False Indicate whether the statement is true or false
Frictional unemployment is thought to explain relatively
a. short spells of unemployment, as is structural unemployment. b. long spells of unemployment, as is structural unemployment. c. short spells of unemployment, while structural unemployment is thought to explain relatively long spells of unemployment. d. long spells of unemployment, while structural unemployment is thought to explain relatively short spells of unemployment.
Which statement is true?
A. American manufacturing wages are the highest in the world. B. American manufacturing wage rates are the lowest of any industrial country. C. Our manufacturing wage rates are the second highest in the world. D. None of the statements are true.
Hotelling's model has been used to describe differentiation in the political "market." Suppose that 100 voters are evenly distributed between the extreme left and the extreme right on the political spectrum, and that all voters vote, and they always vote for the candidate closest to them on this spectrum. The numbers on this spectrum represent the number of voters lying to the left of the number. So, at the midpoint, fifty voters lie to the left and fifty to the right.
If Candidate Y is running against Candidate Z:
A. Both candidates will have an incentive to move toward each other's position. B. Candidate Y will have an incentive to move to the left, and Candidate Z will have an incentive to move to the right. C. Both candidates will have an incentive to move to the left. D. Neither candidate has any incentive to move.