In an unbalanced oligopoly,
a. one firm has significantly greater market power than any other in the industry
b. only one firm exists in the industry
c. the industry is rapidly converging into a monopolistically competitive industry
d. all firms have near-equal market share
e. the four-firm concentration ratio exceeds 100 percent
A
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If a pair-wise majority vote was held and the voters' preferences are shown in the table, assuming transportation and the zoo was the first pair to be voted on, which option would win overall?
A. Public transportation
B. Public parks
C. Public zoo
D. Public parks and zoo.
If Q represents a firm's level of output, W represents the wage paid to labor (L) and R is the cost of capital (K), then which of the following represents the firm's cost function?
B. C(Q) = FC(Q) + VC(Q) C. C(Q) = WL + RK D. C(Q) = (W + R)Q
During the 2008-2009 unemployment rose from about 4.4% to about
a. 6% b. 8% c. 10% d. 12%
In a large country, the effect of a given change in government spending
A) on output is large and the effect on the trade balance is small. B) on output is large and the effect on the trade balance is large. C) on output is small and the effect on the trade balance is small. D) on output is small and the effect on the trade balance is large.