If duopolists individually pursue their own self-interest when deciding how much to produce, the profit-maximizing price they will charge for their product will be
a. less than the monopoly price.
b. equal to the perfectly competitive market price.
c. greater than the monopoly price.
d. possibly less than or greater than the monopoly price.
a
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In 2002, the United States contained around _____ governmental units at all levels
a. ninety thousand b. twelve thousand c. fifty d. five hundred and thirty-five
If more and better technology is used by U.S. farm workers than by Egyptian farm workers, then the
a. MRP of the U.S. farm workers will be higher than the MRP of the Egyptian farm workers b. MRP of the U.S. farm workers will be lower than the MRP of the Egyptian farm workers c. demand for the U.S. farm workers will be lower than the demand for the Egyptian farm workers d. price of farm goods will be higher in the U.S. than in Egypt e. the wage rate of the U.S. farm workers will be lower than the wage rate of the Egyptian farm workers
Graphs are valuable because they facilitate interpretation of data.
Answer the following statement true (T) or false (F)
The life-cycle pattern of income variation causes inequality in the distribution of annual income, but it does not necessarily represent