If quantity demanded increases at all possible prices, demand has
A) increased.
B) decreased
C) remained the same; only quantity demanded has changed.
D) remained the same; however, the curve has become more stee
A
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Refer to Figure 15-4. What is likely to happen to this monopoly in the long run?
A) It will be regulated by the government because of its excess profits. B) New firms will enter the market to eliminate its profits. C) It will expand its output to take advantage of economies of scale so as to further increase its profit. D) As long as there are entry barriers, this firm will continue to enjoy economic profits.
The following data describe government spending and revenue
(a) How much is the budget deficit? (b) How much is the primary budget deficit? (c) How much is the full-employment budget deficit? (d) How much is the current deficit? (e) How much is the current primary deficit?
A firm operating with diminishing total returns cannot be profit maximizing
What will be an ideal response?
Mika borrows $100,000 to start up her own beauty shop. She pays 5 percent interest on her loan. In order to account for all costs of her business, Mika must not forget:
A. the implicit cost of $100,000. B. the implicit cost of $5,000. C. the explicit cost of $105,000. D. the explicit cost of $5,000.