In a Cournot oligopoly, managers determine quantity ________ collusion and the managers at each firm believe that once their rival managers choose their quantity, they ________ change it.
A) with no; will not
B) with; will
C) with; will not
D) with no; will
A) with no; will not
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John receives a marginal benefit of $80 from one missile. Nick receives a marginal benefit of $50 from one missile. Christina receives a marginal benefit of $65 from one missile. John, Nick, and Christina are the only people in the economy
What is the economy's marginal social benefit from one missile? A) $50 B) $65 C) $80 D) $195
If at the current level of product-specific service, consumers' value at $15 and the cost of retailers to provide the services is $10, which of the following is true?
A) the profit-maximizing level of profit-maximizing services is less than the current level B) the profit-maximizing amount of product-specific services is being offered. C) the profit-maximizing level of profit-maximizing services is greater than the current level D) the profit-maximizing level of profit-maximizing services is exactly one -half of the current level
A short-run supply curve is
a. horizontal, summing individual supply curves b. temporary, and disappears when price rises c. downward sloping reaching the horizontal axis d. upward sloping e. vertical
Which of the following is an example of an organization using marginal analysis?
a. A government official considering what effect an increase in military goods production will have on the production of consumer goods. b. A farmer hoping for rain. c. A businessman calculating economics profits. d. A hotel manager calculating the average cost per guest for the past year.