A clothing store can sell two shirts for $20 each or three shirts for $18 each. At a quantity of three shirts sold, marginal revenue is _____
a. $18
b. $14
c. $54
d. $20
e. $44
b
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During 2009, General Motors announced that it would close its Saturn facilities in the United States because of the foreign competition it faced. This corporate move
A) increased structural unemployment. B) increased avoidable unemployment. C) increased cyclical unemployment. D) had no impact on unemployment. E) decreased frictional unemployment.
Management needs more _________ who participate in community action programs and families, contribute to scientific, social or economic advances and improve human lives
a. Followers b. Leaders c. Social workers d. Muckrakers
The price elastic portion of the linear demand curve lies:
a. b and c. b. above the point of unit elasticity. c. anywhere to the left of current market prices. d. below the point where total revenue is maximized. e. at the intersection with the supply curve.
Which of the following happens when oligopolistic firms decide to cooperate? a. Barriers to entry are relaxed. b. Net social welfare increases. c. The same level is produced as in a monopoly
d. Consumer surplus is the same as it would be in a competitive market.