Firms in a perfectly competitive market produce at minimum average cost in the short run and the long run
a. True
b. False
Indicate whether the statement is true or false
False
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The specific case that led to the partial breakdown of the use of the rule of reason by the Supreme Court was the ________ case.
a. American Tobacco b. ALCOA c. U.S. Steel d. IBM
Which of the following is true?
A) To be classified as employed, you must work at least 20 hours per week at a paid job. B) If you are not working and turn down a job offer in the previous week, you are no longer classified as unemployed. C) To be classified as employed, you must be a full-time worker at a paid job. D) Part-time workers are all those who work less than 40 hours per week. E) To be classified as employed, you must work at least 1 hour per week at a paid job or 15 hours or more as an unpaid worker in your family business.
Which is the most accurate statement about Wal-Mart?
A. It proves the case that bigness is always bad. B. It proves the case that bigness is always good. C. Directly and indirectly it saves American consumers up to $100 billion a year. D. It has used its monopoly power to force price increases.
Refer to the diagram, where S d and D d are the domestic supply and demand for a product and P c is the world price of that product. With a per-unit tariff of P c P t , the total amount of tariff revenue collected on this product will be:
A. P a P t times wy.
B. P c P a times x.
C. P c P t times wy.
D. P c P t times z.