A monopolistically competitive firm is producing an output level at which marginal revenue is less than marginal cost. This firm should __________ quantity and __________ price to increase profit or reduce losses
a. increase, increase
b. increase; decrease
c. decrease; increase
d. decrease; decrease
e. increase; not change
C
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Because of the popularity of the movie "Frozen," there is a large increase in demand for the merchandise, there is also many new companies producing items from backpacks, to dresses, to "Frozen" themed food items. How has this affected the market for "Frozen" merchandise?
A. Price increases and quantity is indeterminate. B. Quantity increases and price is indeterminate. C. Price decreases and quantity is indeterminate D. Quantity decreases and price is indeterminate.
Other things remaining the same, a ________ in the real interest rate ________ the quantity of saving supplied and ________ the quantity of loanable funds supplied
A) rise; increases; decreases B) fall; increases; decreases C) fall; increases; increases D) fall; decreases; increases E) rise; increases; increases
Explain why a production quota is inefficient
What will be an ideal response?
A market
a. may be an organized exchange. b. refers to a set of sellers and buyers whose actions affect a commodity's price. c. is that area in which buyers and sellers compete to affect a product price. d. All of the above are correct.