Which of the following goods is an intermediate good?
A) lettuce that a restaurant buys to put on sandwiches
B) tires that a car company buys to put on the cars it produces
C) a television set that Chi-Mai buys to put in her college dorm room
D) a and b
E) b and c
D
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In the above figure of a monopolistically competitive firm, in the long run after all industry adjustments have taken place, assuming that this firm's costs have not changed the firm will
A) produce more output at a higher price. B) produce less output at a lower price. C) produce the same quantity at the same price. D) Any of the above are possible.
Some economists believe that government bailouts privatize the benefits of doing business and socialize the costs, leading to more companies needing to be bailed out
Indicate whether the statement is true or false