Refer to the data above. If disposable income is $550, we would expect consumption to be:
The table shows a consumption schedule.
A. $430
B. $450
C. $460
D. $470
C. $460
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Which of these is a characteristic of monopolistic competition? a. There are barriers to the entry of new firms
b. There are many firms with no control over price. c. The product of each firm is a close substitute of the products produced by other firms. d. The product of each firm is unique and entirely different from the products produced by other firms.
The local welfare committee of Wadonia are planning a new swimming pool that will be accessible to the public at no cost. The committee has requested all households in a 10-metre radius of the pool to contribute $50 each to cover the cost of construction. Unfortunately, the committee is having a hard time meeting its funding goal largely because of the free rider problem. One official suggested
that the free rider problem could be minimized by asking all households within a 15-metre radius to contribute to the construction fund. Which of the following is likely to be true? a. The plan will definitely work as the free rider problem will be minimized completely. b. The committee should reject this plan as the funding requirements will never be met. c. The local jurisdiction should impose a rule so that every individual in the locality has to pay for the pool. d. The plan might allow the pool to reach its funding, but the free rider problem will still exist.
When the cutthroat oligopolist raises their prices, their competitors will ___________.
Fill in the blank(s) with the appropriate word(s).
Liquidity is
A. The opportunity cost of purchasing a bond. B. Low for cash. C. Not important for bondholders. D. The ability of an asset to be converted to cash.