A firm that has merged with many other firms producing a variety of goods unrelated to each other
a. faces higher risks than if it specialized in one and focused on it
b. increases its market share in the industry
c. cannot maximize profit although it does maximize sales
d. cannot survive in the long run
e. is a conglomerate
E
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A policymaker would prefer that the lag in the effect of a policy be
A) long and variable in magnitude or size. B) short and fixed in magnitude or size. C) long and fixed in magnitude or size. D) short and variable in magnitude or size.
Which of the following models argue that active stabilization policy can be beneficial?
a. The classicists b. The new classicists c. The monetarists d. The real business cycle theorists e. None of the above
If the demand for ptyalin is unit elastic, then
a. total revenue decreases as quantity demanded increases b. total revenue increases as quantity demanded increases c. total revenue increases as price increases d. total revenue remains constant as price increases e. total revenue decreases as price increases
Suppose the demand function for cable TV service is given by QCTV = 15 - 0.25 × PCTV + 0.0005 × M + 0.3 × PSTV, where QCTV is the quantity of cable TV demanded (thousands of households), PCTV is the price of cable TV, M is income and PSTV is the price of satellite TV service. If consumers' income is $50,000 and the price of satellite TV service is $90, then which of the following gives the demand curve for cable TV?
A. QCTV = 17 - 0.25 × PCTV B. QCTV = 67 - 0.25 × PCTV C. QCTV = 15 - 0.25 × PCTV + 0.0005 × M + 0.3 × PSTV D. QCTV = 13 - 0.25 × PCTV