How large a firm becomes is determined by
A) the demand for its product.
B) the availability of economies of scale.
C) the availability of economies of scope.
D) the availability of specialized managers.
A
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How does a firm in monopolistic competition decide whether to operate at a loss or shut down in the short run?
What will be an ideal response?
Targeting reserves would be the best choice if
A) there is a close and predictable relationship between bank reserves and total spending. B) there is an unpredictable relationship between bank reserves and total spending. C) the discount rate is fixed. D) private sector spending is very stable.
The economic functions of government include
A) determining prices. B) setting wages in the public sector. C) protecting property rights. D) welfare.
Which would be a likely cause of an increase in the demand for pizza?
A. A reduced desire for take-out and fast-food dining B. A decrease in the price of hamburger sandwiches C. A decrease in the prices of cheese, pepperoni, and mushrooms D. A health report showing eating pizza reduces stress