5 Written Questions
5 Matching Questions
- A monopolist:
- A flat or horizontal demand curve for a firm indicates that:
- Which of the following is an example of labor as a factor of production?
- Disposable income is:
- If Pepsi and Coke are the only two soft drink producers, they could be considered:
- a The firm has no market power.
- b Charges a higher price than a competitive firm, ceteris paribus.
- c The after-tax income of consumers
- d The skills and abilities of workers.
- e A duopoly.
5 Multiple Choice Questions
- Rent for the factory
- The existence of substitute goods.
- Quantity demanded is very responsive to changes in price.
- The interest rate effect
5 True/False Questions
Consumers may not experience the benefits of economies of scale if a natural monopoly: → MPS is 0.21.
Ceteris paribus, if Tamika pays off a loan at the bank then over time → The money supply becomes smaller.
The demand for such items as salt, sugar and hand soap tend to be: → Price and quantity demanded are inversely related.
If marginal cost equals price, then _____ is at a maximum. → Quantity demanded is very responsive to changes in price.
As the economy falls from the peak to the trough of the business cycle: → Cyclical unemployment should increase and real GDP should decline.