The Motor Carrier Act of 1980 removed the government's restriction on:
A. entry into the trucking industry.
B. the size of trucks used to transport goods and services.
C. entry into the industry that produces delivery trucks.
D. entry into parcel delivery.
Answer: A
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This figure displays the choices being made by two coffee shops: Starbucks and Dunkin Donuts. Both companies are trying to decide whether or not to expand in an area. The area can handle only one of them expanding, and whoever expands will cause the other to lose some business. If they both expand, the market will be saturated, and neither company will do well. The payoffs are the additional profits (or losses) they will earn.The game in the figure is shown using a:
A. decision matrix. B. flowchart. C. graph. D. decision tree.
Compared to perfect competitors in the long run, oligopolists charge ______ prices and earn more ______.
Fill in the blank(s) with the appropriate word(s).
Veronica received a federal income tax refund of $600 in May 2016. Veronica put this money in a saving account so that she could spend it when she went on vacation in July 2016. This is an example of money serving as a(n)
A. investment good. B. medium of exchange. C. unit of account. D. store of value.
Assume that labor is the only variable input and that the payment made to labor is denoted as W. The ________ can be stated as W/MC.
A. marginal product of labor B. total cost of labor C. total revenue from labor D. marginal revenue product of labor