A monopolistically competitive firm is a price-taker
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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The major incentive for cost minimization is the
A. power of shareholders in the company. B. fear of top management by workers. C. discipline imposed by the market system. D. impact on U.S. corporations of taxing by the government.
Economics
Suppose that supply increases and demand decreases. What is the most likely effect on price and quantity?
What will be an ideal response?
Economics
Assume that GDP = $10,000 and the MPC = 0.75. If policy makers want to increase GDP by 30 percent, by how much should they decrease taxes?
A) $300 B) $750 C) $1,000 D) $3,000
Economics
In the figure above, with international trade ________ million shirts per year are produced in the United States
A) 48 B) 32 C) 16 D) 20
Economics