If political instability and corruption could be eliminated, economic growth would increase in most developing countries.
Answer the following statement true (T) or false (F)
True
Developing countries suffer from a myriad of problems, of which corruption and political instability are two.
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Refer to the table below. If this market is a Cournot Oligopoly and Firm X is produces 50 units, what is Firm Y's profit-maximizing quantity if their average total and marginal cost are constant and equal to $60?
The table above shows the market demand for a product that both Firm X and Firm Y manufacture. Both firms produce an identical product and the firms' average total and marginal cost are equal and constant.
A) 50 B) 100 C) 200 D) 150
If prices rise within a country, then, other things equal, the value of a unit of domestic currency will:
a. rise in both the domestic and the foreign exchange markets. b. fall in both the domestic and the foreign exchange markets. c. rise in the domestic market and fall in the foreign exchange market. d. fall in the domestic market and rise in the foreign exchange market. e. fluctuate unpredictably in both domestic and foreign exchange markets.
Antitrust laws allow the government to
a. prevent mergers. b. break up companies. c. promote competition. d. All of the above are correct.
Answer the following questions true (T) or false (F)
1. The slope of the production possibilities curve is called the marginal rate of technical substitution. 2. The slope of an isoquant is called the marginal rate of product transformation. 3. The shape of the long run average cost curve is typically U-shaped in practice.