We can represent the entry of new firms into a monopolistically competitive market by shifting the existing firms':
a. demand curves downward.
b. demand curves upward.
c. demand curves more inelastic.
d. cost curves upward.
e. cost curves downward.
a
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Immigrant entrepreneurs have founded what portion of public companies in the U.S. backed by venture capital?
A. About 10% B. About 33% C. About 25% D. About 50%
A regulation that sets the highest price at which it is legal to trade a good is a
A) production quota. B) price floor. C) price support. D) price ceiling. E) subsidy.
Equations for C, I, G, and NX are given below. If the equilibrium level of GDP is $32,000, what will the new equilibrium level of GDP be if government spending increases to 2,500?
C = 5,000 + (MPC)Y I = 1,500 G = 2,000 NX = -500 A) $32,500 B) $34,000 C) $38,000 D) $42,000
Quick Buck and Pushy Sales produce and sell identical products and face zero marginal and average cost. Below is the market demand curve for their product.
If Quick Buck and Pushy Sales decide to collude and work together as a monopolist, then together they should produce ________ units per month and charge ________ per unit.
A. 2,000; $2 B. 1,000; $3 C. 4,000; $2 D. 3,000; $1