A contestable market is one in which prices are moderated by the
a. need to build an empire
b. desire to maximize output
c. noncompetitive nature of the market
d. threat of potential entry
e. regulations imposed by government
D
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As the economy's income has grown, the government has
a. grown at about the same pace. b. grown at a faster pace. c. grown at a slower pace. d. shrunk.
Refer to the above supply and demand graph. In the graph, point A is the current equilibrium level of output of this product and point B is the optimal level of output from society's perspective. S is the supply curve without a tax and St is the supply curve with a tax. The external cost to society from the production of each unit of this product is measured by:
A. AB. B. EF. C. FG. D. DE.
Consider two individuals, Ozzy and Sharon, who produce toy boats and yoyos. Ozzy's and Sharon's hourly productivity are as follows:?Yoyos /hourToy boats /hourOzzy124Sharon105Who has the absolute advantage or comparative advantage in the production of yoyos or boats?
What will be an ideal response?
Payments by a corporation to its shareholders are known as
A) stocks. B) bonds. C) coupons. D) dividends.