Which of the following is NOT true of firms in monopolistic competition?
A) They are price takers.
B) They practice product differentiation.
C) They have excess capacity in the long run.
D) They earn a normal profit in the long run.
A
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A deductible is a fixed amount that the insured person must pay before their insurance kicks in.
Answer the following statement true (T) or false (F)
The idea that the U.S. economy would continue to experience rapid gains in productivity and GDP growth was interrupted in 2001.
Answer the following statement true (T) or false (F)
Which of the following is true about public goods?
A. They are excludable since those who do not pay for them can be excluded from enjoying them. B. They will be over supplied by the private sector. C. They are only produced by government agencies. D. They bestow collective benefits on members of society.
Refer to the information provided in Table 23.2 below to answer the question(s) that follow.
Table 23.2
Refer to Table 23.2. Society's MPC is
A. 0.1. B. 0.2. C. 0.8. D. 0.9.