The decrease in gasoline price volatility in 2015 and 2016 was a result of
A. decreased demand elasticity.
B. decreased supply elasticity.
C. increased supply elasticity.
D. decreased energy usage.
Answer: C
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If government regulators force a natural monopoly to produce where price equals marginal cost, the monopoly will earn
a. a "fair return" b. positive economic profit c. zero economic profit d. negative economic profit e. greater economic profit than if it were unregulated
M1 consists of currency, demand deposits, traveler’s checks, and other checkable deposits.
Answer the following statement true (T) or false (F)
Which of the following is likely to be most capital-intensive?
A. Oil refining in the United States. B. Production of clothing in rural China. C. Farming in developing countries. D. None of the choices are correct.
Refer to the graph below.
The graph indicates that as more eggs are produced, the marginal opportunity cost of:
A. eggs increases while the marginal opportunity cost of rye decreases. B. eggs decreases while the marginal opportunity cost of rye remains constant. C. eggs increases while the marginal opportunity cost of rye remains constant. D. both eggs and rye increases.