Which of the following characterizes the market that Chipotle competes in?
A) "Fast-casual" restaurants sell identical products.
B) All "fast-casual" restaurants face horizontal demand curves.
C) Barriers to entry are low.
D) There are a small number of firms.
C
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Which of the following statements is true?
A) Technological innovation can cause wages to fall for some workers. B) Technological innovation increases wages for all workers in an economy. C) Technological innovation always leads to unemployment in the economy as a whole. D) Technological innovation reduces the demand for goods and services in an economy.
In all areas but property, the measurable costs of the Civil War (1861–1865) were highest in the North
Indicate whether the statement is true or false
If a firm is producing an output level at which marginal revenue exceeds marginal cost in the short run, the firm will increase profits by reducing its output level
a. True b. False Indicate whether the statement is true or false
One thing that both critics of advertising and defenders of advertising agree on is that advertising fosters competition
a. True b. False Indicate whether the statement is true or false