According to Nobel laureate Douglass North, one reason why the Industrial Revolution occurred in England before many other countries was because the king in England consistently maintained control over the court system and the government
Indicate whether the statement is true or false
FALSE
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The cost-revenue diagrams for a monopolist and a monopolistic competitor are similar except that the demand curve for the monopolistic competitor is flatter.
Answer the following statement true (T) or false (F)
In the figure above, the number of unemployed workers is
A) 4,000. B) 3,000. C) 2,000. D) 5,000. E) zero.
The bank failures that occurred during the early years of the Great Depression:
A. hurt the government insurance funds since FDIC covered most of the losses of depositors. B. hurt large depositors the most since it was the large money center banks that failed. C. hurt small depositors the most since it was mainly small banks that failed. D. totaled about 30% of total bank customer deposits.
Refer to the data. If product price is $60, the firm will:
A. shut down.
B. produce 4 units and realize a $120 economic profit.
C. produce 6 units and realize a $100 economic profit.
D. produce 3 units and incur a $40 loss.