One-shot inflation can result from an increase in aggregate demand or an increase in aggregate supply
Indicate whether the statement is true or false
False
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A determinant of the price elasticity of supply is the extent to which
A) consumers like the quality of the good. B) the demand for the good is relatively elastic. C) the good has many consumer substitutes. D) production of the good uses commonly available resources.
One possible solution to improve performance of regulated firms is which of the following?
a. Allow the firm to set its own rate of return. b. Allow higher rates of return to cover higher cost of better performance. c. Allow a higher rate of return for better performance. d. Set lower prices when efficiency improves.
At its profit-maximizing output, the firm in the above figure incurs a total cost of production of
A. $3,900. B. $9,000. C. $6,300. D. $7,000.
List the three most common forms of trade barriers
What will be an ideal response?