Suppose the firm's marginal cost of producing a can increases by $1 per can. Then, based on the figure above, the firm would
A) produce zero cans.
B) decrease the amount of cans it produces but not to zero cans.
C) not change the amount of cans it produces.
D) increase the amount of cans it produces.
E) More information is needed to determine what action the firm will take.
B
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If the government grants a firm a public franchise to supply coal, a monopoly is created by
A) a natural barrier to entry. B) a legal barrier to entry. C) price discrimination. D) All of the above answers are correct.
When you receive interest on your bank account, that income is part of the economy's __________ income
Fill in the blank(s) with correct word
Pair-wise majority voting fails to meet which of the following criteria?
A. No dictator and transitivity B. No dictator and independence of irrelevant alternatives C. Transitivity D. Independence of irrelevant alternatives and transitivity
Fiscal policy influences the levels of income and employment
A. through regulatory controls designed to stimulate business investment. B. through antitrust enforcement. C. through presidential and congressional "jawboning" (speeches and related verbal exhortations) designed to promote economic growth. D. through changes in taxes, transfers, and expenditures.