For a perfect competitor, price equals
A. marginal revenue only.
B. neither marginal revenue nor average revenue.
C. both average revenue and marginal revenue.
D. average revenue only.
Answer: C
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Use the graph to answer the following question:
If the market for investment is initially in equilibrium at point A, but then implementation of fiscal policy causes crowding out to occur, the equilibrium in the market will likely
A. remain at point A. B. move toward point B. C. move toward point C. D. move toward point D.
Congratulations!You have just won a $1,000,000 (delayed) prize in the lottery. Your state offers you the following alternatives:you can take $750,000 now, or 10 years from now you can receive the full $1,000,000
The delay isn't a problem, because you weren't planning to use any of the prize money for at least 10 years. If you take the lump sum now, you figure you can invest it at an annually compounded rate of 3 percent. Should you take the $750,000 now, or wait to get the full $1,000,000 in 10 years?Why or why not?Show any calculations.
If the exchange rate rises, domestic goods become relatively ______ expensive. This change in the affordability of domestic goods makes domestic goods _____ attractive to foreigners. So, _______ ______
Fill in the blank(s) with correct word
Based on the graphic for perfect competition versus monopoly, the welfare for perfect competition is ______ the welfare for monopoly.
a. greater than
b. less than
c. equal to
d. the opposite of