The goal of all regulation is the creation of perfectly competitive markets.
Answer the following statement true (T) or false (F)
False
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A monopolistic competitor would face a demand curve with a
A) positive slope. B) negative slope. C) constant slope. D) slope equal to 0.
When ________ scale of production leads to ________ average costs, an industry exhibits decreasing returns to scale.
A. increased; unchanging B. increased; higher C. increased; lower D. decreased; higher
The buyer's reservation price for a particular good or service is the:
A. largest price the buyer would be willing to pay for it. B. smallest price the buyer would be willing to pay for it. C. price the buyer must pay to ensure he or she gets it. D. same as the market price.
If the nominal interest rate is less than the equilibrium nominal interest rate determined in the money market, then in the short run households and firms
A) buy financial assets. B) sell financial assets. C) increase real GDP. D) lower the price level. E) raise the price level.