The administrative burden of regulating price in a monopolistically competitive market is
a. small due to economies of scale.
b. large because price is usually below marginal cost.
c. large because of the large number of firms that produce differentiated products.
d. small because firms produce with excess capacity.
c
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Using the table provided above, what can be concluded about the Gini ratio and what does this mean for income equality?
A) The Gini ratio is increasing which means there is greater income inequality. B) The Gini ratio is increasing which means there is greater income equality. C) The Gini ratio is decreasing which means there is greater income equality. D) The Gini ratio is decreasing which means there is greater income inequality.
The beginnings of the New York Stock Exchange can be traced back to a small group of men who bought and sold stock in New York in
A) 1792. B) 1866. C) 1892. D) 1929.
Holding other factors constant, a decrease in the tax rate on revenue generated by capital will:
A. decrease investment. B. increase national saving. C. decrease national saving. D. increase investment.
If you purchase one pound of apples the price is $1.50 per pound. If you buy a five pound bag of apples, the cost is $5.00. This is most likely an example of
A) quantity discounts. B) lower marginal cost. C) lower marginal benefit. D) price gouging.