The supply curve for umbrellas
A) shows the supply of umbrellas consumers are willing and able to buy at any given price.
B) is downward sloping.
C) shows the relationship between the price of umbrellas and the quantity of umbrellas supplied.
D) shows the relationship between the quantity of umbrellas firms are willing and able to supply and the quantity of umbrellas consumers are willing and able to purchase.
C
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Gross investment is
A) the wear and tear on private investment. B) the total amount of new private investment purchases. C) what is left over from total new private investment after depreciation. D) the total amount of private investment purchases, whether new or previously existing.
In regard to crowd funding, it was expected that the SEC would limit the amount that small investors can invest in any one company to no more than:
A) $1000 B) $10,000 C) $100,000 D) $1,000,000
The Celler-Kefauver Act made it illegal to:
a. provide selective discounts. b. set prices below marginal cost. c. conspire to collude. d. buy with cash a competitor's patents, plants, or equipment. e. price discriminate.
Schumpeter hypothesized that monopolies
a. do not maximize profits b. advertise extensively to keep out new entrants c. may charge a lower price than the price generated in a perfectly competitive market d. usually experience constant returns to scale e. have higher costs than smaller firms