How much does quantity change if MC1 shifts to MC2?
A. Slightly less than one
B. About one
C. Slightly more than one
D. Not at all
D. Not at all
You might also like to view...
Critics of an equal distribution of income argue that the effect would be to reduce the incentive to be productive
a. True b. False Indicate whether the statement is true or false
A key feature of the 2003 tax reform was
a. the creation of an estate tax b. reduction of the tax rate on dividends and capital gains c. eliminating the capital gains tax d. eliminating tax exemptions e. increasing tax deductions for corporate expenditures on entertainment
This figure shows the payoffs involved when Sarah and Joe work on a school project together for a single grade. They both will enjoy a higher grade when more effort is put into the project, but they also get pleasure from goofing off and not working on the project. The payoffs can be thought of as the utility each would get from the effort they individually put forth and the grade they jointly receive.According to the figure shown, Sarah:
A. should put forth low effort, regardless of what Joe chooses to do. B. should take the first-mover advantage and put forth low effort. C. should put forth high effort, regardless of what Joe choose to do. D. does not have a dominant strategy.
A concentration ratio gives
A) the average size of the firms in an industry. B) the total sales of four or eight of the mid-sized firms in the industry. C) the percentage of all sales contributed by the four or eight largest firms in the industry. D) the sales of the four largest firms in the industry divided by the sales of the eight largest firms in the industry.