Firms in imperfectly competitive markets are
A. more efficient than firms in perfectly competitive industries.
B. price makers.
C. completely inefficient.
D. price takers.
Answer: B
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Which of the following federal agencies is engaged in social regulation?
A) Equal Employment Opportunity Commission B) Office of the Comptroller of the Currency C) the Securities and Exchange Commission D) Federal Deposit Insurance Corporation
If the demand for oranges falls, as a result, it is highly likely that the demand for:
A. orange juice will fall. B. orange grove workers will fall. C. apples will increase. D. apple orchard workers will decrease.
When OPEC raised the price of crude oil in the 1970s, it caused the
a. supply of gasoline to decrease. b. quantity of gasoline demanded to decrease. c. equilibrium price of gasoline to increase. d. All of the above are correct.
Which of the following is not a cost or a disadvantage to making the policies to cushion displaced workers more? generous?
What will be an ideal response?