Which of the following describes a difference between the marginal revenue and demand curves of a perfectly competitive firm and a monopolistically competitive firm?
A) The marginal revenue curve of a monopolistically competitive firm lies below its demand curve; the marginal revenue curve of a perfectly competitive firm lies above its demand curve.
B) The perfectly competitive firm's marginal revenue and demand curves are the same; the marginal revenue curve of a monopolistically competitive firm lies below its demand curve.
C) The monopolistically competitive firm's marginal revenue and demand curves are the same; the marginal revenue curve of a perfectly competitive firm lies below its demand curve.
D) The perfectly competitive firm's marginal revenue and demand curves are the same; the marginal revenue curve of a monopolistically competitive firm lies above its demand curve.
B
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Some bank regulation limits the types of assets that banks may own. The intent of this regulation is to
a. protect banks from competition. b. provide banks with a minimum level of profits. c. limit the level of bank profits. d. maintain bank safety. e. All of the above are correct.
In the 19th century, hospitals had notorious reputations—questionable places to visit, risky places to stay. A number of advances changed all this and led to the transition to the modern hospital system. Which of the following changes had nothing to do with the transition?
a. Advances in medical technology b. Availability of health insurance to pay the bills c. Urbanization d. An aging population and the increased incidence of chronic illness that followed e. Development of the germ theory of disease
Favored customers receive special treatment from dealers during periods of excess demand.
Answer the following statement true (T) or false (F)
The government debt is defined as
A) the excess of total revenues over total expenditures. B) the sum of all past deficits and surpluses. C) the excess of total expenditures over total revenues. D) government spending on goods and services plus transfer payments.