Refer to Scenario 18.1. What should the fishermen do if they know the factory will maximize profits and no negotiation is possible?
A) Install a treatment plant.
B) Do not install a treatment plant.
C) It makes no difference if the fishermen do or do not install a treatment plant.
D) Install a filter.
E) Exit the industry.
A
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Consider the budget line in the above figure. If the consumer's income is $240, then the price of a movie is
A) $24 per movie. B) $12 per movie. C) $10 per movie. D) More information is needed to determine the price of a movie.
Unlike a sole proprietorship, a corporation's shareholders
A) own the firm and directly manage it as well. B) do not own the firm but directly manage it. C) own the firm but do not directly manage it. D) do not own the firm and do not directly manage it.
Firms may easily enter a monopolistically competitive market
a. True b. False
To use an analogy that helps explain the ABCs of economic development: To build a skyscraper, you must first build the foundation. In order for an economy to create economic development, it must first develop an infrastructure. The infrastructure investment refers to
a. networks of factories b. a high birth rate c. markets d. roads, schools, telecommunications systems, hospitals e. an access to foreign investment