Perfect competition and monopolistic competition differ
A. with respect to the elasticity of their demand curves.
B. with respect to product differentiation.
C. with respect to influence over the price they charge.
D. All of these choices are difference between them.
D. All of these choices are difference between them.
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Jacqueline has a Ph.D. in economics. She has turned down many job offers because she eventually hopes to teach at one of the top ten universities in her field. The type of unemployment she is experiencing is: a. frictional unemployment. b. structural unemployment. c. seasonal unemployment. d. cyclical unemployment
e. underemployment.
Suppose the Fed raises the federal funds rate. Describe the ripple effects of this monetary policy. Other short-term interest rates and the exchange rate ________. The quantity of money and supply of loanable funds ________.
Fill in the blank(s) with the appropriate word(s).
Generally speaking, if a firm faces decreasing average total costs of production throughout its entire range of output, then:
A. More firms will enter the market B. It will be unable to remain in business C. The firm is a natural monopoly D. The firm is able to earn only a normal profit
Consider the two graphs above. Suppose that firms are able to use inventories as collateral for low-interest loans. This would ________ the desired level of inventories, as depicted in graph ________
A) increase; B B) increase; A C) decrease; B D) decrease; A