Total costs increase from $1,500 to $1,800 when a firm increases output from 40 to 50 units.. Which of the following are true?
a. AC rise by $1.00
b. AC fall by $1.50
c. AC rise by $1.50
d. AC fall by $1.00
b
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When one company is the sole seller of certain products in a market, it is called a
A) conglomerate. B) monopoly. C) government exclusive. D) manipulation of the market.
Price ceilings are adopted in most cases because
A) the government views the current equilibrium price as too high for consumers. B) the government wants to create surpluses. C) the government favors a non-intervention policy. D) producers need incentives to produce more of the good or service.
"Positive externalities" create a case for financing education to some extent from tax revenues insofar as
What will be an ideal response?
An equilibrium in a game in which players pursue their own self-interests and do not cooperate is called a
A) cartel equilibrium. B) noncooperative equilibrium. C) prisoner's dilemma equilibrium. D) dominant strategy equilibrium.