A cartel is a group of firms that collude to produce the equilibrium output and sell at the equilibrium price
a. True
b. False
Indicate whether the statement is true or false
False
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Long run average cost curves are downward sloping for increasing returns to scale production technologies.
Answer the following statement true (T) or false (F)
In finance, the leverage ratio refers to:
A. how a firm decides to borrow funds that it doesn’t have. B. using borrowed money to pay for investments. C. ratio of assets it has relative to its equity. D. ratio of assets it has relative to debt.
In perfect competition, an economic profit can be earned
a. only in the long run b. only if the firm is efficient c. only in the short run d. never e. always
One of the Fed's functions is to be the government's banker. This function means that the
A) Fed holds bank reserves B) Fed extends loans to the government whenever it spends more than it collects in tax revenues. C) government's checking account is at the Fed. D) all of the above