If a firm can change market prices by altering its output then it:
a) Faces a horizontal demand curve.
b) Has market power.
c) Is a competitive firm.
d) Is a price taker.
Answer: b) Has market power.
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Negative marginal revenue means that
a. the firm is maximizing its economic profit b. the firm is maximizing its total revenue c. total revenue is increasing at an increasing rate as output increases d. total revenue is increasing at a decreasing rate as output increases e. total revenue is decreasing as output increases
An increase in the government budget deficit shifts the demand for loanable funds to the right
a. True b. False Indicate whether the statement is true or false
If postal workers lose their positions because of the widespread e-mailing, texting, and faxing, it would likely _______ the natural rate of unemployment.
a. increase.
b. not change.
c. decrease
d. Have an unpredictable effect on.
An industry consists of three firms with equal annual sales. What is the industry's C4?
A. 0.75 B. 1.00 C. 0.58 D. There is not sufficient information to compute the industry C4.