The evidence shows that both the U.S. steel and auto industries seem to have lost their vigor for growth and competitive edges in the global marketplace
Indicate whether the statement is true or false
True
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Refer to Figure 3-7. Assume that the graphs in this figure represent the demand and supply curves for mustard and that bratwurst and mustard are complements. What panel describes what happens in this market when the price of bratwurst falls?
A) Panel (a) B) Panel (b) C) Panel (c) D) Panel (d)
Which of the following is true when regulators require a natural monopolist to set price equal to marginal cost?
a. This policy results in a less than socially optimal allocation of resources. b. The marginal cost of producing the last unit sold exceeds the consumers' marginal value for that last unit. c. The monopolist will face recurring losses unless a subsidy is provided. d. The monopolist will earn a normal profit. e. The monopolist will earn more than a fair return.
In theory, the long-run supply curve for perfectly competitive market firms who are identical is:
A. perfectly elastic. B. perfectly inelastic. C. upward sloping. D. downward sloping.
A firm has three different investment options, each costing $10 million. Option A will generate $12 million in revenue at the end of one year. Option B will generate $15 million in revenue at the end of two years. Option C will generate $18 million in revenue at the end of three years. Which option should the firm choose?
a. Option A b. Option B c. Option C d. The answer depends on the rate of interest, which is not specified here.