Monopolistic competition is inefficient because:
a. firms earn positive economic profits.
b. the firms' marginal costs and marginal revenues are not equal.
c. firms have excess capacity in the long run.
d. entry is difficult.
c
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Saving differs from savings in that
A) saving is a flow while savings is a stock. B) saving is both a flow and a stock while savings is a stock. C) saving is a stock while savings is a flow. D) saving is a stock while savings is both a flow and a stock.
When perfect price discrimination comes in the form of a two-part tariff, one part of the "tariff" just covers marginal costs.
Answer the following statement true (T) or false (F)
If a currency increases in value in response to market forces, this process is known as
a. reflation. b. revaluation. c. appreciation. d. value-added.
The zero discharge goal
a. calls for the total elimination of water-polluting releases b. is overly ambitious c. is inherently benefit-based d. all of the above e. none of the above