When M1 is expanded to M2, the money supply:
a. almost doubles.
b. more than triples.
c. goes up tenfold in size.
d. changes very little.
e. goes up by 50 percent.
b
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A worker's stock of knowledge is known as
A) monetary capital. B) human capital. C) physical capital. D) financial capital.
In a perfectly competitive market, a decrease in the market demand will ultimately lead to ________ firms in the market and a ________ market equilibrium quantity.
A) more; higher B) fewer; lower C) more; lower D) fewer; higher
According to the graph, if the perfectly competitive outcome and monopoly outcome are compared, we can see that the:
This graph shows the cost and revenue curves faced by a monopoly.
A. monopoly creates deadweight loss.
B. perfectly competitive firm would lose money in this industry.
C. perfectly competitive firm would produce Q1 units.
D. monopolist would charge P3 and the perfectly competitive firm would charge P1.
What determines the perfect competitor's supply curve? How is the industry supply curve found?
What will be an ideal response?