Walmart entered the grocery business in the 1990s. By 2005, it was the ________ grocery chain in the U.S.
A. fourth-largest
B. largest
C. third-largest
D. second-largest
Answer: B
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In the above figure, the long-run average cost curve exhibits constant returns to scale
A) between 5 and 10 units per hour. B) between 10 and 20 units per hour. C) between 20 and 25 units per hour. D) along the entire curve.
Producer surplus measures the
a. benefits to sellers of participating in a market. b. costs to sellers of participating in a market. c. price that buyers are willing to pay for sellers' output of a good or service. d. benefit to sellers of producing a greater quantity of a good or service than buyers demand.
The number of presidentially appointed members who sit on the Federal Reserve Board of Governors is:
A. none. B. seven. C. nine. D. twelve.
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