Special interest groups are a determent to the political process.
A. True
B. False
C. Uncertain
B. False
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The practice of a firm setting a price so low that all firms incur losses is called
a. a tournament. b. predatory pricing. c. a buy-out strategy. d. a contestable market.
If the marginal cost of a perfectly competitive firm producing a good is $50 and the market price of the good is $100, the firm should:
A) decrease its output. B) increase its output. C) try to increase the market price. D) try to decrease the market price.
The first claim on a corporation's after-tax profits is held by the
a. consumers b. managers c. stockholders d. bondholders e. government
Mary can clean 20 windows per hour or type 30 pages of paper per hour. Tom can clean 18 windows per hour or he can type 25 pages of paper per hour. Based on this
A. Mary has comparative advantages in both activities. B. Tom has a comparative advantage in cleaning windows. C. Tom has comparative advantages in both activities. D. Mary has a comparative advantage in cleaning windows.