A key reason for the existence of firms is that, compared to markets, firms often achieve lower
A) explicit costs.
B) transactions costs.
C) accounting costs.
D) scope of team production.
B
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A market is considered competitive if the Herfindahl-Hirschman Index (HHI) is ________ and its four-firm concentration ratio is ________
A) high; high B) high; low C) low; high D) low; low E) between 30 percent and 70 percent; greater than 5,000
Decrease in stock market wealth will ________ the expenditure curve:
A) decrease. B) increase. C) not change. D) none of the above.
Hans Selye called beneficial stress:
a. Distress b. Eustress c. Prostress d. Type B stress
If the price level increases, the money demand curve will
a. shift leftward b. become steeper c. remain in the same position; however, there will be movement upward along the curve d. shift rightward e. remain in the same position; however, there will be movement downward along the curve