The above figure illustrates a perfectly competitive firm. Curve A represents the
A) MR curve.
B) ATC curve.
C) MC curve.
D) AVC curve.
E) AFC curve.
A
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If an economy initially starts away from the steady state ________
A) output will gradually fall over time B) the economy will converge to the steady state in the long-run C) consumption spending must be greater than investment spending D) consumption spending must rise
Global environmental externalities are caused when pollution created in one country does which of the following?
a. Affects people in other countries who also caused the pollution b. Does not affect people in other countries c. Affects people in other countries who did not cause the pollution d. Positively affects people in other countries
Evan knows his GPA would skyrocket if he could break his horrible habit of procrastinating. An example of a commitment device Evan could use would be:
A. to allow himself one hour of leisure for every half-hour of studying he does each day. B. to pay a student to meet him each afternoon for 2 hours in the library to ensure he studies every day. C. to exercise before studying in order to be refreshed. D. All of these are commitment devices.
Perfect price discrimination is
A) realistic. B) practiced by many firms. C) a purely theoretical possibility. D) very common.