The most important factor in determining the long-run profit potential in monopolistic competition is
A) free entry and exit.
B) the elasticity of the market demand curve.
C) the elasticity of the firm's demand curve.
D) the reaction of rival firms to a change in price.
A
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Using the economic way of thinking, what is the least efficient use of water?
A) Drinking B) Bathing C) Filling balloons D) It depends on the water user's estimate of cost and benefit.
Currently, a three-year Treasury note pays 4.75%. Assuming that your tax rate is 20%, what is the minimum interest rate that you would you need to earn on a tax-free municipal bond in order to buy it instead?
A) 0.95% B) 3.8% C) 5.7% D) 15.25%
The Pullman strike of 1894
a. resulted in management's agreement to negotiate with the labor union. b. received widespread support from the American public. c. was led by Eugene V. Debs. d. became a model for later attempts by unions peacefully organize. e. All of the above.
The optimal mix of output may not be produced by an economy because of the existence of
A. Inequity. B. Production possibilities. C. Internalities. D. Underproduction of public goods.