Examples of monopolistically competitive industries in which firms differentiate their products by offering them at more locations include all of the following EXCEPT:
A. restaurants.
B. video rental stores.
C. retail clothing stores.
D. wheat farms.
Answer: D
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The table above gives the demand for a monopolist's output. What is the marginal revenue when output is increased from 5 to 6 units?
A) $18 B) $4 C) $3 D) -$2
According to the graph shown, if this were depicting an autarky, the equilibrium price would be:
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
A. $10.
B. $14.
C. $17.
D. $4.
If bread costs $1 per pound and meat costs $4 per pound, a consumer whose marginal utility of meat equals 80 utils per pound is maximizing utility only if the marginal utility per pound of bread equals
a. 4 utils b. 5 utils c. 10 utils d. 20 utils e. 80 utils
Inflation is measured by examining the percent increase in the ________ from one year to the next.
A. price of gas B. GDP growth C. nominal GDP D. CPI