Deregulation, especially for the transportation and telecommunication industries, was the trend in the United States during the:
a. 1930s.
b. 1950s.
c. 1970s.
d. 1980s.
d
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Steel producers lobbying to keep imports out is an example of:
A. objective cost-benefit analysis. B. rent-seeking behavior. C. rational ignorance. D. corruption.
A monopolistically competitive industry is like a purely competitive industry in that:
A. nonprice competition is a feature in both industries. B. firms in both industries face a horizontal demand curve. C. each industry produces a standardized product. D. neither industry has significant barriers to entry.
Slope is calculated as a change in the variable on the horizontal axis divided by a change in the variable on the vertical axis.
Answer the following statement true (T) or false (F)
Refer to the information provided in Table 8.4 below to answer the question(s) that follow. Table 8.4ProduceUsing TechniquesUnits of Variable KInputs L1 unit of outputA4 4?B2 6????2 units of outputA 7 6?B410????3 units of outputA 8 6?B 6 11Refer to Table 8.4. Assuming the price of capital (K) is $10 per unit and the price of labor (L) is $5 per unit, the marginal cost of producing the third unit of output is
A. $15. B. $20. C. $25. D. indeterminate from this information.