A firm in perfect competition and one in monopolistic competition are very similar in that MR = P for firms in both markets.
Answer the following statement true (T) or false (F)
False
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The following are obstacles to international investment EXCEPT
A) population growth. B) asymmetric information. C) adverse selection. D) moral hazard.
A change in the cost of production will generally prompt a change in _____.
Fill in the blank(s) with the appropriate word(s).
One "design principle" that makes informal, community-based solutions to public goods and common resource problems more effective is:
A. the ability of users to monitor one another. B. the participation of resource users in setting the rules for use. C. clear distinctions between who is and is not allowed to access the resource. D. All of these are important to the effectiveness of community-based solutions.
After a price ceiling of $8 is placed on the market in the graph shown, the total number of units traded:
A. increases by 15 relative to equilibrium. B. falls by 8 relative to equilibrium. C. falls by 23 relative to equilibrium. D. falls by 15 relative to equilibrium.