The range of output for a duopoly ranges between the
A) perfectly competitive outcome and the monopolistically competitive outcome.
B) efficient scale and the perfectly competitive outcome.
C) minimum of ATC and the efficient scale.
D) monopoly outcome and the perfectly competitive outcome.
E) short-run perfectly competitive outcome and the long-run perfectly competitive outcome.
D
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Economists believe a volunteer military is likely to
A) cost more than a conscripted military. B) cost taxpayers more than a conscripted military would. C) impose higher costs on military personnel than does a conscripted military. D) increase the percentage of incompetent people in the armed forces.
Which of the following is a possible impact of a global savings glut on a small open economy?
A) interest rate would increase B) interest rate would decrease C) domestic savings would increase D) domestic investment would increase
The lower the barriers to entry and exit, the more nearly a market structure fits the ____ market model
a. monopolistic competition b. perfectly contestable c. oligopoly d. monopoly e. none of the above
What is the difference between the short run and the long run as economists define the two?