When the quantity demanded and quantity supplied in a market are equal, the market is said to be in
a. fixation.
b. excess supply.
c. equilibrium.
d. excess demand.
c. equilibrium.
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Is a firm economically inefficient if it can cut its costs by producing less? Why or why not?
What will be an ideal response?
The landmark antitrust case which established that size alone is not sufficient to prove an antitrust violation is the:
a. U.S. Steel case. b. Brown Shoe case. c. Von's Grocery case. d. ALCOA case. e. Pabst Brewing case.
Under both the gold standard and the gold exchange standard countries bought and sold U.S. dollars to maintain a fixed exchange rate with the dollar
a. True b. False Indicate whether the statement is true or false
If a market is dominated by a few large, interdependent firms, it is said to be a(n)
a. oligopoly b. monopoly c. integrated monopoly d. monopolistically competitive market e. perfectly competitive market