Over the past several decades, technological change has led to a significant amount of consolidation in the U.S. brewing industry
Indicate whether the statement is true or false
TRUE
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Which of the following is not one of the assumptions of a perfectly competitive market?
A) Better information for producers than consumers. B) Homogeneous product. C) Free entry and exit. D) Large number of buyers and sellers.
A natural monopoly regulated with a marginal cost pricing rule results in
A) an economic loss for the regulated firm. B) an economic profit for the regulated firm. C) a normal profit for the regulated firm. D) a deadweight loss.
Risk-averse persons will take no risks
a. True b. False Indicate whether the statement is true or false
Real GDP is GDP in a given year
A) adjusted only for anticipated inflation. B) adjusted only for unanticipated inflation. C) valued in the prices of that year. D) valued in the prices of the base year.