Refer to the information provided in Figure 14.1 below to answer the question(s) that follow.
Figure 14.1Refer to Figure 14.1. Firms form a cartel that maximizes profits. The profits are
A. $0.
B. $1,080.
C. $1,800.
D. indeterminate from this information.
Answer: B
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If firms are producing at a profit-maximizing level of output where the price exceeds the average total cost:
A. accounting profits must be positive, but economic profits are zero. B. economic profits must be positive. C. other firms will exit the market. D. firms will exit the market.
An increase in government spending shifts aggregate demand
a. to the right. The larger the multiplier is, the farther it shifts. b. to the right. The larger the multiplier is, the less it shifts. c. to the left. The larger the multiplier is, the farther it shifts. d. to the left. The larger the multiplier is, the less it shifts.
What conditions are necessary for economic competition to exist?
Please provide the best answer for the statement.
If you grant that the long-term benefits of Head Start are in doubt and focus, instead, on the short-term benefits, you find that
A. Head Start children do much worse in Kindergarten. B. children in Head Start are more likely to repeat first or second grade. C. Head Start has no effect there either. D. children in Head Start are less likely to need special education classes.