Regulation of a firm in a monopolistically competitive market
a. usually implies a very small administrative burden.
b. will lower the firm's costs.
c. is commonly used to enhance market efficiency.
d. is unlikely to improve market efficiency.
d
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To produce more output in the short run, a firm must employ more of
A) all its resources. B) its fixed resources. C) its variable resources. D) the least costly resources regardless of whether they are fixed or variable. E) Firms cannot produce more output in the short run.
The smaller the marginal propensity to save, other things constant, _____
a. the smaller the marginal propensity to consume b. the smaller the multiplier c. the flatter the consumption function d. the steeper the consumption function e. the steeper the saving function
A union can achieve higher wages without accepting lower levels of employment of members by
A) promoting right-to-work laws. B) increasing the demand for substitute products made by non-union labor. C) increasing conflicts with management. D) beginning a campaign against buying foreign imports.
A supply curve shows
A) the quantities sold at different prices. B) the marginal cost of producing one more unit of a good or service. C) the marginal benefit from buying one more unit of a good or service. D) the total cost of producing different quantities of a good or service.