Which of the following is a fixed cost to farmer McDonald?
a. gasoline
b. fertilizer
c. insurance
d. seed
c
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If a monopolist faces entry by a potential rival, investing to lower its marginal cost
A) is a credible way to deter entry. B) is not a credible threat. C) is credible but will not deter entry. D) will not occur, even when there are no barriers to entry.
Between 1914 and 1920, the US price level ______________
a. fell dramatically. b. nearly doubled. c. rose and fell in accordance with intensity of the war. d. remained relatively stable.
Which of the following is an example of product differentiation based on the location from which a product is sold?
a. An electronic company advertising its new range of slim smartphones b. A cellphone service provider offering free access to a particular website c. A car mechanic opening his new workshop near a busy highway d. An electronic company offering a warranty of 5 years for its air conditioners
An example of a policy aimed at economic development that would also indirectly impact poverty would be:
A. food stamps. B. earned income tax credit. C. public investments in education. D. All of these will cause economic growth and positively impact poverty.