After the imposition of the quota, the quantity demanded of TVs is ________ thousand.
A. 20
B. 80
C. 100
D. 40
Answer: B
Economics
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The Leontief production function implies:
A. L-shaped isoquants. B. convex-shaped isoquants. C. straight-line isoquants. D. A positive MRTS.
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Which of the following may transform an industry from oligopoly to monopolistic competition?
A. Significant vertical integration B. Exit of firms C. A series of horizontal mergers D. Entry of new firms
Economics