The market for _____ is an example of an oligopoly
a. hair gel
b. body deodorants
c. running shoes
d. commercial aircrafts
d
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In the case of the production of electronic calculators, introduced in the United States in the 1960s,
A. a technological breakthrough reduced the input quantities needed to produce them. B. quantity demanded increased significantly as prices fell. C. production costs fell with advances in technology. D. All of the responses are correct.
If the MPC is 0.80, and if the goal is to increase real GDP by $200 million, then by how much would government spending have to change to generate this increase in real GDP?
a. $240 million. b. $200 million. c. $180 million. d. $40 million.
Many charities like the Sierra Club are established to deal with externalities
a. True b. False Indicate whether the statement is true or false
The profit-maximizing level of labor, in a union-dominated labor market, occurs where
A. MRP = marginal wage. B. Marginal wage = marginal factor cost. C. Marginal wage = zero. D. MRP = marginal factor cost.