Voting rights and dividends for stocks are given ______.
a. in equal amounts to each individual shareholder
b. according to the amount of shares each person owns
c. only to preferred shareholders
d. only to bondholders
b. according to the amount of shares each person owns
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Which of the following is TRUE of the price charged by a monopolistically competitive firm at the profit-maximizing level of output?
A) P > MC B) P = MC C) P = MR D) P < AVC
Suppose an oil cartel has an agreement to restrict members' production in order to maintain a price of $30 per barrel. A single cartel member may want to cheat and exceed its quota so that it can:
a. reduce its costs. b. charge higher prices. c. make demand more inelastic. d. earn a bigger profit.
Which of the following most accurately reflects the opportunity cost to a pharmacist who drives a taxi?
What will be an ideal response?
The service a homeowner performs when she mows her yard is not included in GDP because:
A. This is a nonmarket transaction
B. This is a nonproduction activity
C. This is a noninvestment transaction
D. Multiple counting would be involved