Which fact about recycling is incorrect?
A. Between 1980 and 2008, recycling in the United States has tripled.
B. As of 2014, the 27 European Union members recycled more in terms of a percentage of garbage than the United States.
C. Recycling rates of commonly used materials in the United States and industrial countries have fallen.
D. Only 9 percent of plastics are recycled.
Answer: C
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Which of the following will not happen as a consequence of a monopolistically competitive firm suffering economic losses in the short run?
A) The firm will exit the industry if it continues to suffer economic losses. B) In the long run the firm will be able to charge a price that is greater than its average total cost. C) The firm's demand curve will shift to the right if it stays in business in the long run. D) The firm will break even if its stays in business in the long run.
Refer to the following game.Firm AFirm B??Low PriceHigh Price?Low Price(9,10)(8,15)?High Price(-7,10)(11,11)Which of the following is true?
A. There does not exist a dominant strategy for firm A. B. A dominant strategy for firm B is "low price." C. A dominant strategy for firm A is "high price." D. None of the answers is correct.
A shift of the demand curve to the left represents
A) an increase in demand. B) a decrease in demand. C) an increase in quantity demanded. D) a decrease in quantity demanded.
If a market produces a level of output below the competitive equilibrium, then
A) social welfare is not maximized. B) consumer surplus might still be maximized. C) the actual price will be below the equilibrium price. D) social welfare might still be enhanced if a price ceiling keeps price below the competitive price.