Given the above graph, the marginal rate of technical substitution at point A is
A. greater than 4.0.
B. greater than 0.25.
C. less than 0.25.
D. less than 4.0.
Answer: B
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The government office in charge of collecting official employment statistics is the:
A. Bureau of Labor Statistics. B. Bureau of Economic Analysis. C. Bureau of Industry and Security. D. Bureau of the Census.
Intellectual property rights are difficult to protect
Indicate whether the statement is true or false
The demand curve of a monopolist is
a. identical to the marginal cost curve. b. downward sloping and above the marginal revenue curve. c. downward sloping and below the marginal revenue. d. elastic because of a recognized interdependence with other firms.
Refer to the diagrams, which pertain to a purely competitive firm producing output q and the industry in which it operates. Which of the following is correct?
A. The diagrams portray neither long-run nor short-run equilibrium.
B. The diagrams portray both long-run and short-run equilibrium.
C. The diagrams portray short-run equilibrium but not long-run equilibrium.
D. The diagrams portray long-run equilibrium but not short-run equilibrium.