This profit-maximizing (loss-minimizing) firm charges a price of _______.
A. $35
B. $40
C. $45
D. $55
D. $55
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If the multiplier = 2.5, the MPS would be
A) 0.25. B) 0.4. C) 0.6. D) 0.75.
Households ________ factors of production and ________ goods and services
A) demand; supply B) demand; demand C) supply; supply D) supply; demand
Figure 8.4 depicts demand and costs for a monopolistically competitive firm. If the firm's demand curve shifts to the left as more firms enter the market:
A. the firm's profit will be smaller at the new profit-maximizing output level. B. the firm's profit will be greater at the new profit-maximizing output level. C. the firm's profit will remain the same at the new profit-maximizing output level. D. There is not sufficient information.
If protective import-restricting quotas are imposed by a country, all of the following groups benefit EXCEPT
A. domestic producers in the affected industry. B. importers that are able to obtain the rights to sell imported items in the affected industry. C. employees of domestic producers in the affected industry. D. domestic consumers in the affected industry.