Antibiotics tend to be overused, as the producers of antibiotics are required to bear all the costs of antibiotic use false
a. true
b. false
Answer: b. false
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The above table shows the percent of sales held by the four largest firms in an industry
a) Calculate this industry's four-firm concentration ratio. b) Is this industry competitive? c) What market type does it most likely represent?
When economists say that money promotes ________, they mean that money encourages specialization and the division of labor
A) bargaining B) contracting C) efficiency D) greed
By the accelerator hypothesis, if a firm's actual sales jump in one period to a higher maintained level, that firm's net investment
A) also jumps in one period to a higher maintained level. B) gradually drifts upward to a higher maintained level. C) jumps upward and then falls back to zero. D) jumps upward and then falls back part of the way.
In the short run, if a firm's total variable cost curve lies above its total revenue curve at all possible output levels, the firm's minimum short-run loss
a. equals its total fixed cost b. equals zero c. occurs at the maximum point of the total revenue curve d. occurs at the maximum point of its marginal revenue curve e. occurs at the minimum point of its marginal cost curve