Refer to the above figure. Which panels represent long run equilibrium for the perfectly competitive firm and monopolistic competitive firm, respectively?
A) Panel C and Panel A
B) Panel C and Panel B
C) Panel B and Panel C
D) Panel C and Panel D
B
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The price elasticity of demand for Kellogg's Raisin Bran is larger in absolute value than the price elasticity of demand for all breakfast cereals
Indicate whether the statement is true or false
Economists played a key role in the development of merger guidelines by the Department of Justice and the Federal Trade Commission in 1982. These guidelines have three main parts. What are these parts?
A) market definition; measure of concentration; merger standards B) economic analysis; political analysis; dynamic analysis C) concentration ratios; the Herfindahl-Hirschman Index; market standards D) concentration standards; concentration ratios; competitive analysis
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 created an Office of Credit Ratings at the SEC with its own staff and the authority to fine credit-rating agencies and to deregister an agency if it produces bad ratings
This is an example of which remedy of conflicts of interest? A) regulate for transparency B) supervisory oversight C) leave it to the market D) socialization of information production
If there is a(n) __________ in reserves, the potential change in demand deposits is __________
A) deficiency; 0 B) deficiency; positive C) deficiency; negative D) excess; negative