An imperfectly competitive firm has the following total cost curve: C = 100 + 4Q. What is average total cost equal to when Q = 10?
What will be an ideal response?
C/Q = [100 + (4 )(10 )]/10 = 14
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Increases in the price level
A) decrease the opportunity cost of holding money. B) increase the quantity of money needed for buying and selling. C) increase the opportunity cost of holding money. D) decrease the quantity of money needed for buying and selling.
An example of the problem of ________ is when a corporation uses the funds raised from selling bonds to fund corporate expansion to pay for Caribbean cruises for all of its employees and their families
A) adverse selection B) moral hazard C) risk sharing D) credit risk
At low levels of production, the firm
a. benefits from increased size because it can take advantage of greater specialization. b. has the potential for economies of scale. c. is unlikely to experiences acute problems with coordination. d. All of the above are correct.
When designing public policies, which income group would philosopher John Rawls argue needs the most attention?
a. Individuals located in the bottom fifth of the income distribution. b. Individuals located at the average income level. c. Individuals located in the top fifth of the income distribution. d. Individuals located in the top five percent of the income distribution.