The demand curve facing a perfectly competitive firm is
A. downward sloping.
B. perfectly inelastic.
C. infinitely elastic.
D. perfectly elastic.
Answer: C
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If the marginal utility Ida Mae receives from eating chicken wings is negative then
A) her total utility from eating chicken wings has fallen. B) Ida Mae definitely does not like chicken wings. C) her total utility has risen, but by less from the last chicken wing than from the next to last chicken wing. D) her total utility from eating chicken wings is negative as well.
Which of the following is not one of the four anti-competitive activities outlined in the Clayton Act?
a. Price discrimination. b. Exclusive buyer/seller contracts. c. Buying a competitor's voting stock. d. Buying a competitor's plants and equipment. e. Interlocking boards of directors.
Which of the following would tend to decrease velocity?
a. an increase in interest rates b. more frequent paychecks c. expected decreases in inflation d. more efficient payment systems
A bond purchaser bought a bond from which she receives $800 a year from the issuer. If the face value of the bond is __________ then the coupon rate is __________
A) $10,000; 10 percent B) $8,000; 8 percent C) $10,000; 8 percent D) $8,000; 12 percent E) none of the above