Market share can be computed by dividing
A. Price by average total cost.
B. The amount that a buyer buys by the total amount that is produced in the market.
C. Profit by total cost.
D. The amount sold by a single firm by the total sold in the market.
Answer: D
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The table above shows information about the costs and benefits of a steel smelter that pollutes the air of a city. The market is efficient when the quantity of steel produced is ________ tons per week
A) 5 B) 10 C) 15 D) 20 E) 25
According to the graph shown, if this economy were open to free trade, and decided to impose a tariff, the domestic quantity demanded would:
This graph demonstrates the domestic demand and supply for a good, as well as a tariff and the world price for that good.
A. decrease from 1500 to 1150.
B. increase from 1150 to 1500.
C. increase from 815 to 1150.
D. decrease from 1150 to 815.
Country A has a higher GDP than country B. What does this mean?
A) It means that on a per-capita basis the residents of country A are relatively better off (in terms of the goods and services they have available to them) than the residents of country B. B) It means that on a per-capita basis the residents of country A are richer than the residents of country B. C) It means that more goods and services were produced in country A than country B. D) It means that the total market value of the final goods and services produced in country A is greater than the total market value of the final goods and services produced in country B. E) a and d
Assume there is no government or foreign sector. If the multiplier is 2, a $20 billion increase in planned investment will cause aggregate output to increase by
A. $5 billion. B. $10 billion. C. $20 billion. D. $40 billion.