If there are 1000 different sellers of a particular good, and they are all charging exactly the same price, that the sellers are probably
A) colluding.
B) making a profit.
C) oligopolists.
D) price takers.
E) securing government assistance.
D
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Refer to the above figure. Diseconomies of scale exist
A. over the entire range of output. B. up to output Q2. C. from output Q2 to Q5. D. after output Q5.
In the capital market, households ________ savings and firms ________ funds.
A. supply; supply B. demand; demand C. demand; supply D. supply; demand
Refer to Figure 11-7. When output level is 100, what is the total cost of production?
A) $20 B) $1,000 C) $1,200 D) $2,000
Real GDP refers to:
a) the value of the domestic output after adjustments have been made for environmental pollution and changes in the distribution of income. b) GDP data that embody changes in the price level, but not changes in physical output. c) GDP data that reflect changes in both physical output and the price level. d) GDP data that have been adjusted for changes in the price level.