What is the economies of scope character for a firm that has a straight-line product transformation curve?
A) Economies of scope (SC > 0)
B) Diseconomies of scope (SC < 0)
C) SC = 0
D) SC = 1
C
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Total revenue is a term economists use to describe the
a. price the firm charges for its goods b. money remaining after costs are paid c. average profit earned per good sold d. total profit earned by the firm e. money the firm receives selling its goods
Discuss the key criteria for success and the advantages of a central bank adopting the framework of inflation targeting.
What will be an ideal response?
Refer to the graph shown. According to the graph, this monopolistically competitive industry is currently:
A. in long-run equilibrium, and so the number of firms will remain unchanged. B. in short-run equilibrium with economic profit equal to zero. C. not in long-run equilibrium, and we would expect some firms to exit this industry. D. not in long-run equilibrium, and we would expect more firms to enter this industry.
A nation's official reserve transaction account
A) is always a positive number. B) is always a negative number. C) is always equal to zero. D) compensates for the differences in the current and capital accounts.