Which of the following is closest to a perfectly competitive market?
A) the pizza market
B) the market for breakfast cereal
C) the market for corn
D) the market for automobiles
Answer: C
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Refer to Figure 2.1. At point D, demand is:
A) completely inelastic. B) inelastic, but not completely inelastic. C) unit elastic. D) elastic, but not infinitely elastic. E) infinitely elastic.
Games:
A. will always have a dominant strategy. B. are always zero sum. C. will always have several stable outcomes. D. None of the above are true.
If the MRP is less than the wage, the firm should hire more labor
Indicate whether the statement is true or false
In North Carolina, a car must pass an emissions test before it can be registered. The emissions test costs $20 per car. This system is an example of
a. direct controls on pollution. b. a per-unit emissions tax. c. a "license to pollute." d. subsidies for nonpollution.