A firm in a perfectly competitive industry can raise its price above the market price to increase revenue.
Answer the following statement true (T) or false (F)
False
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Which of the following is NOT a popular stock market index?
A) Dow Jones Industrial Average B) NASDAQ C) S&P 500 D) Moody's Market Index
Which of the following is a false statement about absolute and comparative advantage?
a. Comparative advantage is the basis for gains from trade. b. It is possible for one country to have the absolute advantage in all goods. c. It is possible for one country to have the comparative advantage in all goods. d. To find comparative advantage, you need to consider opportunity cost. e. All of these statements are true.
A global network that provides knowledge and resources to developing countries is called the:
A. World Bank. B. International Resource Fund. C. United Nations Development Program. D. World Trade Organization.
A consumer's optimum is found when
A) the marginal utility of the last dollar spent equals zero for each good. B) the marginal utility of each good is increasing and the total income is spent. C) the total utility of each good is the same and the total income is spent. D) the marginal utility of the last dollar spent on each good is the same and all income is spent.