Refer to Table 11.1. If exports decrease by 30, what is the new equilibrium level of output?
A) 1,700 B) 2,300 C) 6,800 D) 9,200
A
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A firm could not be engaged in successful predatory pricing if: a. It charged prices greater than the average variable cost of production. b. It drove rivals out of the market
c. It raised its prices after its price cutting campaign. d. None of the above is true.
As a result of the government procurement policy in the U.S.:
a. the domestic consumers are required to pay a higher price than the government for the domestically produced goods. b. the government wields the sole authority of importing goods from abroad. c. the government wields the sole authority of exporting goods. d. the government is required to buy the domestic goods if the domestic price is less than the world price. e. the government is required to sponsor research and development for the domestic firms.
One of the conclusions of the model of monopoly is that the firm earns economic profits above the required opportunity cost of the factors of production. Are these profits lost to society? Do they take spending power from the economy, and act as a brake on economic growth?
What will be an ideal response?
Which of the following are examples of market signals?
A. extracurricular activities B. education C. warranties D. all of the above