Which of the following markets would reach long-run equilibrium fastest?
A) online retail
B) auto dealers
C) oil extraction
D) World Series tickets
A
You might also like to view...
If (PVB/PVC)for a given policy option equals 5.5, this means that
a. the policy option is not feasible b. for every dollar of incremental costs incurred by society, there are $5.50 in realized incremental benefits c. the policy option is feasible d. both (b) and (c) are correct
In the United States in 2012, the CDC estimated that the total number of people with diabetes (both diagnosed and undiagnosed cases) was lowest for people in the age range of ________, and the percentage of people with diabetes was lowest for people
in the age range of ________. A) 20-44; 20-44 B) 65 and older; 65 and older C) 45-64; 65 and older D) 65 and older; 20-44
A company finds that at its present level of production, MC = AVC at $15, MC = ATC at $20, and MC = MR at $17. Your advice to the firm regarding its short-run operations is
A) to continue production, as it is earning an economic profit of $2 per unit. B) to continue production, as it is earning an economic profit of $3 per unit. C) to shut down. D) to continue production at a loss.
When compared with the purely competitive industry with identical costs of production, a monopolist will produce:
A. More output and charge the same price B. More output and charge a higher price C. Less output and charge a higher price D. Less output and charge the same price