Which of the following statements is most accurate about the Internet and tech companies?
A. The markets they operate in are monopolistically competitive.
B. Firms that dominate one market will use large profits from that industry to put competitive pressure on rivals in other markets.
C. The most dominant firms in each market only hold about 30 percent of the market share.
D. Collusion among firms means that each industry is fully monopolized.
Answer: B
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If a profit-maximizing firm is a price taker in both the input and output markets, its marginal revenue product of labor is given by
a. the price of its output times labor's marginal physical productivity. b. the marginal value product of labor. c. the marginal revenue product of capital times the ratio of the wage rate to the rental rate on capital. d. all of the above.
When a demand curve is expressed in log-linear form, such as log(Q) = a - b log(P) + b2 log(P2) + c log(I), the coefficients of the demand determinants correspond to:
A. changes in determinants other than price. B. the parameters that may fluctuate in value. C. the independent variables in the model. D. the elasticity values of those determinants.
Identify which item is not one of the six parts of the financial system.
A. Financial institutions B. Credit cards C. Central banks D. Financial instruments
Which of the following is true about real wages?
What will be an ideal response?