Competitive offers to buy and sell resources establish money prices, which reflect relative scarcities
A) in all economic systems.
B) in any economic system where efficiency is important.
C) only when there are no sunk costs to be recovered.
D) when resources are privately owned.
D
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Which of these forms of financing is generally not employed by very large firms?
A) commercial paper B) medium-term notes C) public debt D) mezzanine funds
Monopolistic competition and monopoly have all of the following in common EXCEPT
A) P > MC. B) firms are price setters. C) barriers to entry. D) MR = MC.
If you can download 10 ring tones for your cell phone for $10 or you can download 11 ring tones for your cell phone for $10.50, then the marginal cost of the eleventh ring tone is
A. $0.50. B. $10.00. C. $10.50. D. $20.50.
Refer to the above figure. Curve (4) is the
A. marginal product curve. B. average fixed cost curve. C. average variable cost curve. D. total fixed cost curve.