Which of the following is NOT true for a perfectly competitive firm?
A) P = MR
B) AR = MR
C) MR = TR
D) P = AR
Answer: C
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Explain how "net capital flows" are related to "net foreign investment," "net foreign direct investment," and "net foreign portfolio investment."
What will be an ideal response?
The Constitution contains a provision that states that no laws shall be passed "impairing the obligation of contracts." This provision
(a) meant that the English common law was legislated for the new republic. (b) was an innovation by the authors of the Constitution and not found in British law. (c) was only a minor aspect of developing the new idea of government by law and not by men. (d) was a controversial provision and opposed by many delegates.
In the short run, some costs are fixed
a. True b. False Indicate whether the statement is true or false
If average costs of production decline with increases in output for a particular large firm in an industry:
a. many small firms will be more efficient than the single large firm in the industry. b. the single large firm will be more efficient than many small firms in the industry. c. product diversification will be necessary for the firm to spread its overhead. d. diseconomies of scale become significant as its output increases. e. its variable cost of production will exceed its fixed costs.