If a firm in a monopolistically competitive market has a demand curve shifting to the right, it is likely that:
A. the selling price is less than the average total cost of the firm.
B. positive economic profits are being earned.
C. firms are entering the market.
D. All of these statements are true.
Answer: A
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The success of a strike depends on the union's ability to
a. do all of the following b. reduce the supply of labor to the firm c. reduce the supply of scabs to the firm d. remain unified e. endure the strike
The tendency for the poorest risks to buy health insurance and the tendency of the insured to take more risks with their health are known as moral hazard and adverse selection, respectively
a. True b. False
Answer the following statement(s) true (T) or false (F)
1. From an economic perspective, the zero discharge goal meets the efficiency criterion by accounting for both the benefits and costs of that objective. 2. According to available data, most water bodies in the United States have met the zero discharge goal. 3. The effluent limitations are set to maximize net benefits. 4. Because the effluent limitations are set uniformly, achieving a cost-effective solution is unlikely. 5. In order for the effluent limitations to achieve cost-effectiveness, the MACs of all polluters would have to be equal.
The tax burden falls more heavily on the side of the market that is more inelastic
a. True b. False Indicate whether the statement is true or false