A transfer payment is a payment made by
a. consumers, but not in exchange for a tangible product.
b. firms, but not in exchange for capital equipment.
c. foreigners, but not in exchange for a domestically-produced good or service.
d. government, but not in exchange for a currently produced good or service.
d
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What is true of marginal cost when marginal returns are increasing?
a. It is negative and increasing. b. It is negative and decreasing. c. It is positive and increasing. d. It is positive and decreasing. e. It is positive and has a constant slope.
A depositor cannot directly write checks against: a. demand deposits
b. transaction deposits. c. nontransaction deposits. d. money market mutual fund accounts.
Compare two markets. In one market, the HHI is 500, in the other market the HHI is 1,500. What must be true of these two markets?
A. The firms in the market in which the HHI is 1,500 have greater market power than do the firms in the market in which the HHI is 500. B. There are more firms in the market in which the HHI is 1,500 than in the market in which the HHI is 500. C. The firms in the market in which the HHI is 1,500 have less market power than do the firms in the market in which the HHI is 500. D. The market in which the HHI is 500 is, by definition, an oligopoly but the market in which the HHI is 1,500 is not an oligopoly.
What does a monopolist's demand curve for labor look like? How does it compare to the market demand curve for a competitive industry? Assuming the monopoly purchases factors of production in a perfectly competitive market, what does the supply curve of labor to a monopolist look like? Explain.
What will be an ideal response?