For a monopoly, the entry of new firms is difficult, but not impossible
Indicate whether the statement is true or false
F
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Refer to Table 18-1. Suppose a series of votes are taken in which each pair of alternatives is considered in turn. If the vote is between allocating funds to subsidies for education and research on Alzheimer's
A) Ivy and Rose vote for education subsidies, Jasmine votes for Alzheimer's research, and education subsidies wins. B) Jasmine and Rose vote for Alzheimer's research, Ivy votes for education subsidies, and Alzheimer's research wins. C) Ivy and Jasmine vote for education subsidies, Rose votes for Alzheimer's research, and education subsidies wins. D) Jasmine and Ivy vote for Alzheimer's research, Rose votes for education subsidies, and Alzheimer's research wins.
Ted's Pancake Kitchen suffers a short-run loss. When should Ted decide to shut down rather than continue to produce?
A) if his Kitchen's revenue is less than its fixed costs B) if his Kitchen's revenue is less than its total costs C) if his Kitchen's revenue is less than its variable costs D) if his Kitchen's revenue is less than its explicit costs
Suppose that the price level has risen but the government has not collected any seigniorage. Which of the following might have happened?
A. V rose, M and Y were constant. B. Y rose, M and V were constant. C. M rose, Y and V were constant. D. M rose, Y fell, V was constant.
If the multiplier is 10, then the MPS is ________ while the MPC would be ________.
A. 1; 9 B. 0.9; 0.1 C. 9; 10 D. 0.1; 0.9