If both buyers and sellers expect the price of a commodity to fall in the future, it is likely that the market clearing price ________ and the equilibrium quantity ________
A) will fall, cannot be predicted
B) will rise, cannot be predicted
C) cannot be predicted, will fall
D) cannot be predicted, will rise
A
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Refer to the table below. If the cost per unit of advertising is constant at $900, what is the level of advertising per week that maximizes the industry joint profit?
Suppose the dairy industry is made of up only by the three firms above; Cow Haven, Free Cows, and Happy Cows.
A) 3 B) 5 C) 2 D) 4
Economic stabilization is best achieved by
a. fixing a tolerable point on the Phillips curve and staying there b. moderate shifts in the Phillips curve during periods of inflation c. moderate shifts in the Phillips curve during periods of unemployment d. fixing a tax rate that generates maximum tax revenue e. allowing the business cycle to run its course without government interference
In a market capitalist economy, the what, how, and for whom problems are determined by
Consider a Stackelberg duopoly with the following inverse demand function: P = 100 ? 2Q1 ? 2Q2. The firms' marginal costs are identical and are given by MCi = 2. Based on this information, the Stackelberg leader's marginal revenue function is:
A. MR(QL) = 50 ? 2QL + c1/2. B. MR(QL) = 50 ? 2QL + c2/2. C. MR(QF) = 100 ? QF + c2/2. D. MR(QF) = 100 ? 2QF + c1/2.