Which is true to promote economic growth?
a. govts should encourage a relaxation of the child labor laws, to allow younger children to leave school by age 12 in order to work and earn income
b. The US govt should often lower taxes on foreign firms who want to locate plants in the US
c. Govts should encourage women to have 5 or more babies to foster economic growth
d. all
Ans: b. The US govt should often lower taxes on foreign firms who want to locate plants in the US
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Monopolistically competitive firms constantly develop new products in an effort to
A) make the demand for their product more elastic. B) increase the demand for their product. C) increase the marginal cost of their product. D) None of the above are correct.
The monopolist always maximizes its profits by producing the amount of output that sets the marginal revenue equal to zero
Indicate whether the statement is true or false
A monopolistically competitive firm can convince buyers that its product has value by differentiating its product to suit consumers' preferences
Indicate whether the statement is true or false
The Internet was first developed in the
A. business sector. B. government sector. C. corporate sector. D. college dorm room of Bill Gates.