In the short run both the monopolistically competitive firm and the perfectly competitive firm will charge a price equal to marginal cost
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to Scenario 1-2. Had the firm not produced and sold the last 300 hats, would its profit be higher or lower, and by how much?
A) Its profit will be $1,000 lower. B) Its profit will be $100 lower. C) Its profit will be $1,100 higher. D) Its profit will be $100 higher.
Now suppose competition among several market makers forces the spread down to $4 . How many goods are traded?
a. Four b. Five c. Six d. Seven
The largest change in the unemployment rate from the beginning of a recession to the peak unemployment rate occurred during the recession beginning in:
A. 1980. B. 1973. C. 1929. D. 2007.
The trade-off between risk and expected value is exactly the kind of choice you have to make whenever you think about investing money in:
A. retirement funds. B. One needs to think about the trade-off to invest in all these things. C. stocks. D. bonds.