Use the following graphs to answer the next question.
A short-run equilibrium that would produce losses for a monopolistically competitive firm would be represented by graph
A. A.
B. B.
C. C.
D. D.
Answer: D
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The level of reserves in the banking system is determined by
A) the Federal Open Market Committee. B) the Treasury Department. C) bond dealers. D) the American Banking Association.
A critical assumption made by all economic models is that
a. few economic decision makers face constraints under capitalism b. few economic decision makers face constraints under communism c. every economic decision maker, except the extremely wealthy, faces constraints d. every economic decision maker, except the federal government, faces constraints e. every economic decision maker faces constraints under every economic system
Suppose that the inflation rate was 4 percent in 2002 and 3 percent in 2003 . This would mean that
a. the price level fell from 2002 to 2003 b. the price level fell at a faster rate in 2003 than in 2002 c. the price level rose at a faster rate in 2003 than in 2002 d. the price level rose at a slower rate in 2003 than in 2002 e. all prices in the economy rose at a rate of 3 percent in 2003
Which of the following conditions makes it most likely for a quota to be imposed?
A) The benefits of the quota are spread over many and the costs are concentrated on a few. B) The benefits of the quota are spread over many and the costs are spread over many. C) The benefits of the quota are spread over few and the costs are spread over many. D) The benefits of the quota are spread over few and the costs are spread over few. E) There is not enough information to answer the question.