Which is an illustration of a microeconomic question?
A. Is the economy experiencing a declining rate of inflation?
B. Will a new type of television set increase the number of buyers?
C. Is the production of goods and services in the economy greater this year than last year?
D. What is the current national rate of unemployment?
Answer: B
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The higher the transactions costs, the easier it is to negotiate an agreement involving negative externalities
Indicate whether the statement is true or false
Exhibit 6-14 Cost curves
?
In Exhibit 6-14, a firm finds that it is experiencing numerous managerial and information problems. The position of its short- and long-run average total cost curves suggest that it is operating at a production level:
A. between 0 and 1,000. B. between 1,000 and 2,000. C. between 2,000 and 3,000. D. between 3,000 and 4,000.
Government transfer payment as a percentage of GDP have been:
a. generally rising. b. cyclical. c. generally falling. d. constant.
Describe how near-monopoly behavior in internet industries has fostered aggressive competition
What will be an ideal response?