If two firms are producing the exact same product, it ________ possible for the firms to earn economic profit in a Cournot oligopoly and it ________ possible for the firms to earn economic profit in a Bertrand oligopoly.
A) is; is B) is not; is not C) is not; is D) is; is not
D) is; is not
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The above figure shows the market for game day t-shirts. If the price of t-shirts is $12, then
A) the market is in equilibrium. B) there is a surplus and the price of t-shirts will fall. C) there is a shortage and the price of t-shirts will fall. D) there is a shortage and the price of t-shirts will rise. E) there is a surplus and the price of t-shirts will rise.
The decline of the poverty rate for the elderly can be attributed to
a. Temporary Assistance for Need Families (TANF) b. tax increases c. Medicaid d. the political power of the elderly e. increased resource earnings
Which of the following accurately describes the motivation behind predatory pricing?
a. to drive out competitors b. to increase sales c. to tie goods together d. to attract new customers
Suppose individuals expect an increase in future taxes. Explain what effect this expected increase in future taxes will have on the yield curve and on stock prices in the current period
What will be an ideal response?