According to the excess capacity theorem, if every firm under monopolistic competition expanded its output,
a. cost per unit of output would rise.
b. social benefits would increase.
c. cost per unit of output would decrease.
d. MC and AC would remain unchanged.
c
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The table below gives the quantities and prices for 2000 and 2010 for an economy that produces just two goods: sailboats and coconuts. Quantity producedPrice 2000201020002010Sailboats1020$500$525Coconuts2,0002,400$1$2For this economy that produces just sailboats and coconuts, and with 2000 is the base year, real GDP was approximately ______ times larger in 2010 than it was in 2000.
A. 1.34 B. 1.77 C. 1.65 D. 2.19
Given that you observe nothing but the high price of the product, you are more likely to infer that
a. The product is low quality b. The product is high quality c. The product is the lowest quality possible d. The product is defective
The poverty rate _______ between 1993 and 2000 and _____ between 2001 and 2004.
A. fell; fell B. rose; rose C. fell; rose D. rose; fell
The fact that 10 additional nations joined the European Union in May 2004 is an example of deepening
Indicate whether the statement is true or false