Which of the following is an accurate statement about perfectly competitive markets?
a. They have numerous small suppliers.
b. They have a few large suppliers.
c. They have few small suppliers.
d. They have about the same number of small and large suppliers.
a. They have numerous small suppliers.
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When people decide whether or not to get a flu vaccination, they ignore the ________ and as a result ________
A) marginal private benefit; too few vaccinations are given B) external benefit; too few vaccinations are given C) private cost; too many vaccinations are given D) marginal external cost; vouchers must be provided E) social cost; too many vaccinations are given
Employing a general equilibrium approach, describe the effect of a new law that prohibits steel imports
What will be an ideal response?
Which of the following will likely cause a reduction in output per worker?
A) a reduction in education expenditures B) a reduction in the saving rate C) a reduction in on-the-job training D) all of the above
In the above figure, the monopolist's profit-maximizing output level is
A. A. B. B. C. C. D. D.