Periods of extreme hyperinflation are the result of:
A. excessive monetary expansions by government.
B. stock market price bubbles.
C. oil price shocks.
D. severe recessions.
Answer: A
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All firms can increase profits using price discrimination
A) True, because market demand curves are downward sloping B) True, because firms can sell different versions of a product that is just right for an individual consumer C) False, because consumers aren't forced to buy a firm's products D) False, because some firms are in competitive markets
About half of black and Hispanic children in female-headed households live in poverty
a. True b. False Indicate whether the statement is true or false
Suppose that production for good X is characterized by the following production function, Q = K0.5L0.5, where K is the fixed input in the short run. If the per-unit rental rate of capital, r, is $15 and the per-unit wage, w, is $25, then the average fixed cost of using 9 units of capital and 81 units of labor is:
A. $75. B. $80. C. $5. D. There is insufficient information to determine the average fixed costs.
One way to view the cost structure of monopolistic competition is to say that the cost of product differentiation is equal to
A. the sum of marginal cost and minimum average cost. B. the difference between marginal revenue and marginal cost. C. the sum of price and marginal cost. D. the difference between the cost of production for a monopolistically competitive firm in an open market and the minimum average total cost.