Which of the following is not a coincident indicator?
a. Personal income.
b. Industrial production.
c. Manufacturing and trade sales.
d. All of these.
d
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Describe the marginal revenue curve in relationship to the demand curve for a monopoly. Why is it like that?
What will be an ideal response?
Consider an industry with 5 firms. Firm A has sales of $6 mil., firm B has sales of $12 mil., firm C has sales of $30 mil., firm D has sales of $50 mil. and firm E has sales of $2 mil. The Herfindahl-Hirschman index for this industry is
a. 3580 b. 3584 c. 2500 d. 3400 e. unknown, not enough information to tell
When marginal cost is rising, average variable cost
a. must be rising. b. must be falling. c. must be constant. d. could be rising or falling.
Which is true?
A. A per unit tax levied in an industry with a horizontal demand curve will be all paid by the producer. B. A seller never pays all of a per unit tax no matter what the market conditions. C. A per unit tax levied on the producer in an industry with a horizontal supply curve will be all paid by the producer. D. A producer never pays all of a per unit tax no matter what the market conditions.