Jane's Garage Cleaning is a perfectly competitive firm that currently cleans 40 garages a week. Jane's marginal cost is less than the price she charges. Jane can increase her profit if she
A) charges a higher price.
B) charges a lower price.
C) cleans fewer than 40 garages a week.
D) cleans more than 40 garages a week.
D
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A rent ceiling below the equilibrium rent will create
A) a more efficient allocation of housing. B) a larger number of apartments rented. C) no change in the number of apartments rented. D) increased search time and black markets.
In the long run, increases in the money supply increase the economy's potential output level
a. True b. False Indicate whether the statement is true or false
The prisoner's dilemma provides an explanation of why detectives interview suspects separately in television crime shows.
Answer the following statement true (T) or false (F)
Which of the following is not a main function of the entrepreneur?
A. to innovate B. to assume the risk of economic losses C. to make strategic business decisions D. to make routine pricing decisions