In oligopoly outcomes, the dominant firm's profitability depends on how the fringe, consisting of small competing sellers, responds to its choices
Indicate whether the statement is true or false
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When it takes more euros to purchase a dollar, the dollars is said to have:
A) depreciated B) appreciated C) it depends on whether one is using direct or indirect quotations D) it depends on whether one is considering cross rates or exchange rates
The above figure shows a graph of a market for pizzas in a large town. At a price of $10, the market
A) is not in equilibrium. B) has excess supply. C) does not have excess demand. D) All of the above.
One of the reasons why firms pollute air and water is that
a. air and water are often not priced. b. managers desire to pollute. c. air and water have no value to society. d. managers are profit maximizers.
An economy operating on its production possibilities frontier is:
a. wasting resources. b. efficient. c. inefficient.