Suppose quantity supplied increases from 16 to 24. Using the mid-point formula, the percentage change in quantity supplied is
A. 40%
B. 0.4%
C. 4%
D. 40%
D. 40%
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A perfectly competitive firm should shut down in the short-run if price falls below the minimum of
A) marginal cost. B) marginal revenue. C) average total cost. D) fixed costs. E) average variable costs.
Describe the pattern of growth rates in real GDP per hour worked in the United States since the early nineteenth century. Has output per hour worked consistently increased at the same rate? Explain
What will be an ideal response?
The corporate form of business started to become more prevalent in the United States economy in the late 1700s
Indicate whether the statement is true or false
An oligopoly that has two dominant strategies is called a duopoly
a. True b. False Indicate whether the statement is true or false