Deregulation of the airline and trucking industry has (i) resulted in considerable entry of new firms, and (ii) has forced unions in these industries to make large concessions on wages and working conditions
a. i and ii
b. i but not ii
c. ii but not i
d. neither i nor ii
a
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Induced expenditure includes
A) consumption expenditure, government expenditure on goods and services, and imports. B) investment, consumption expenditures, and exports. C) consumption expenditure and exports. D) consumption expenditure and government expenditure on goods and services. E) consumption expenditure and imports.
In the above figure, total revenue for this profit-maximizing monopolistically competitive firm is
A) $50,000. B) $91,000. C) $96,000. D) $100,000.
All of the following are barriers to entry in an industry EXCEPT
A) a patent. B) governmental restrictions. C) low marginal tax rates. D) economies of scale.
According to the graph shown, if Q2 units are being produced, this monopolist:
This graph shows the cost and revenue curves faced by a monopoly.
A. is earning negative profits.
B. should cut back production to increase profits.
C. is maximizing revenue.
D. is maximizing profits.