If an individual perfectly competitive firm charges a price ________ the industry equilibrium price while competitors charge the equilibrium price, the firm will not sell any of what it produces.
A. above
B. equal to
C. below
D. More information is needed to answer the question.
Answer: A
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Any increase in efficiency increases output available for distribution
a. True b. False Indicate whether the statement is true or false
Along a production possibilities curve, an increase in the production of one type of good can be accomplished only by:
A. decreasing the price of the other type of good. B. increasing the production of the other type of good. C. holding constant the production of the other type of good. D. decreasing the production of the other type of good.
If the dollar appreciates, how will aggregate demand in the United States be affected?
A) Aggregate demand will increase as exports increase and imports decrease. B) Aggregate demand will increase as imports increase and exports decrease. C) Aggregate demand will decrease as imports increase and exports decrease. D) Aggregate demand will decrease as exports increase and imports decrease.
In a free market economy, the market clearing (equilibrium) price in the above table would adjust to
A) $1. B) $3. C) $4. D) $5.