We assume that in the short run in a perfectly competitive market the:
A. price is fixed.
B. number of firms is fixed.
C. total quantity supplied is fixed.
D. All of these are true of the short run.
Answer: B
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The slope of the line in the above figure is
A) 8. B) 0.05. C) 0.125. D) 0.10.
Control of water pollution from pesticide runoff in the United States is the responsibility of
a. the U.S. Department of Agriculture b. the Environmental Protection Agency c. state attorneys general d. state departments of agriculture e. state environmental protection agencies
A newspaper story recently reported that the price of new cars has decreased and the quantity of new cars sold has dropped. The new price and quantity could have been caused by:
What will be an ideal response?
The root cause of our selling off piece after piece of our country can be traced to
A. our low interest rates. B. our high tax rates. C. our large trade deficits. D. our low cost of living.