Which of the following commodity bundles represents two goods that are perfect substitutes?
a. Ink and fountain pens
b. Diesel and diesel cars
c. Butter and margarine
d. Webcams and computers
c
Economics
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Compared to a cartel, firms in a Cournot Oligopoly
A) make more joint profit. B) sell less output. C) make less joint profit. D) act independently.
Economics
If marginal revenue product is less than price of the input, the firm should use more of the input
a. True b. False Indicate whether the statement is true or false
Economics
Some politicians argue that reducing the corporate income tax will increase business investment spending
a. True b. False Indicate whether the statement is true or false
Economics
In the above figure, what is the equilibrium level of real GDP with government and the foreign sector?
A. $3.0 trillion B. $4.0 trillion C. $2.0 trillion D. $2.5 trillion
Economics