As a curve approaches a maximum point, the slope will
A) be positive, then negative after the maximum point.
B) be negative, then positive after the maximum point.
C) remain constant on either side of the maximum point.
D) increase before and after the maximum point.
A
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C
We have a futures contract for the purchase of 10,000 bushels of wheat at $3.00 per bushel. If the price of wheat were to increase to $3.50, explain what happens to the parties involved in the contract in terms of marking to market. Be sure to identify who is long and short and specifically how much is transferred.
What will be an ideal response?
J.T. Smith's company, Gamemaker, sells gambling equipment to gaming service companies. Since the quality of the equipment is difficult to monitor and gamblers are often the source of machine failure, Smith could cheat on the level of machine quality. However, Smith has a strong quality assurance program. A primary reason for that may be
A. the asymmetric information Smith holds on quality. B. company reputation. C. the need for reinforcement. D. cost containment.
A decrease in long-run average costs resulting from increases in output is
A. attributed to the law of diminishing marginal product. B. attributed to constant returns to scale. C. attributed to economies of scale. D. attributed to diseconomies to scale.