In the Cournot equilibrium, each firm assumes that the other's ________ is/are being held constant.
A. output or sales
B. price
C. marketing strategy
D. costs
Answer: A
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The first English colonies in North America were established by:
a. Sir Humphrey Gilbert. b. Christopher Columbus. c. Capt. John Smith. d. Sir Walter Raleigh.
Centralized planning agencies are a key feature of command economies
a. True b. False Indicate whether the statement is true or false
A vertical long-run aggregate-supply curve represents
a) both the classical dichotomy and monetary neutrality. b) the classical dichotomy but not monetary neutrality. c) neither the classical dichotomy nor monetary neutrality. d) monetary neutrality but not the classical dichotomy.
Amy can produce either 5,000 pounds of cheese or 20 cars per year. Mike can produce either 5,000 pounds of cheese or 10 cars per year. Amy has a comparative advantage in producing ________, and Mike has a comparative advantage in producing ________.
A. cheese; cheese B. cheese; cars C. cars; cars D. cars; cheese