The perfectly competitive firm has no influence over price because
A. its output is so insignificant relative to the market as a whole.
B. antitrust laws constrain perfectly competitive firms.
C. consumers establish the prices of products.
D. it doesn’t know its demand curve.
Answer: A
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Miniville is an isolated town located on the southern shore of Lake Condescending, a very large lake. The western edge of Miniville is adjacent to impassable mountains and there are no towns or businesses for many miles to the east. The 300 residents of Miniville are evenly distributed along 3 miles of shoreline on the lake, east of the mountains. Lake Shore Drive, the only street in town, provides access to Miniville's homes and businesses. All residents live between the lake and the street; businesses locate on the other side of the street. Lake Shore Drive is 3 miles long, and the points labeled A, B, and C are 1, 2, and 3 miles from the western end of Lake Shore Drive, respectively. All residents of Miniville shop at the store located closest to their homes. src="https://sciemce.com/media/4/ppg__rrr0818190951__f1q215g1.jpg" alt="" style="vertical-align: 0.0px;" height="117" width="538" />________ residents of Miniville live west of point B, and ________ live east of point A.
A. 150; 150
B. 100; 200
C. 200; 100
D. 200; 200
If Japan and the United States engage in trade, and Japan gains as a result of the trade, does that mean the United States has lost in some manner?
What will be an ideal response?
The proportion of the total population aged 0–15 and over 65, is known as the
(a) dependency burden. (b) unproductive population. (c) surplus labor. (d) population momentum.
By 2006, 20 percent of the mortgage market consisted of:
A. subprime loans, while 80 percent were still regular prime mortgages. B. prime loans, and an overwhelming 80 percent had become subprime mortgages. C. securitized loans, and the rest were backed by the government. D. individual mortgage loans, and an overwhelming 80 percent had become securitized loans.