The demand curve for a monopolistically competitive firm has a:
A. positive slope and the marginal revenue curve has a negative slope.
B. negative slope and the marginal revenue curve has a negative slope.
C. negative slope and the marginal revenue curve has a positive slope.
D. positive slope and the marginal revenue curve has a positive slope.
Answer: B
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According to the text, there are three ways the government can help increase the accumulation of knowledge capital. What are they?
A) encouraging the use of trade secrets, expanding student loan programs, and increasing the minimum wage B) reducing taxes on capital, increasing Social Security payments, and lowering the exchange rate C) increasing taxes on firms, eliminating patents, and increasing the minimum wage D) protecting intellectual property rights, subsidizing research and development, and subsidizing education
Refer to Table 22-3. Use the table above to calculate the annual growth rate in GDP. Also calculate the total percentage change in the growth from 2013 through 2016
Explain the difference between the average annual growth rate in real per capita GDP from 2013 through 2016 and the total percentage change in growth from 2013 and 2016.
A picture frame company operates in a monopolistically competitive market. Its short-run equilibrium price is $80 and its ATC is $65 . It sells 100 picture frames a week. From this we can tell:
a. this firm is making a normal profit. b. other picture frame companies will want to exit the market. c. there are no other picture frame companies in the area. d. economic profits are $1,500. e. total profits are being maximized.
Productivity growth is the main cause of rising living standards
a. True b. False Indicate whether the statement is true or false