Which of the following gives the Fed a credibility problem because the Fed may change its planned policies in light of new economic developments?

Assume good X is produced in a monopolistically competitive market. In addition, each of the firms in the industry uses essentially the same technology. Competitors distinguish their individual products primarily through persuasive advertising

Assume that one of the firms in the market discovers a new production process that substantially reduces the average costs of production. Analyze the effects of this discovery on long-run equilibrium in the market.

Alex and Ben are both loggers wanting to harvest timber from the same forest. Alex prefers to harvest and replant at a sustainable rate; Ben wants to harvest as many trees as possible to maximize short-run profit, and then move on. They face the same

production costs. Refer to the information given. If no explicit property right is given over the forest land, then: A. a property right will be established when trees are cut down and brought to market. B. there is no property right over the harvested timber. C. Alex and Ben will likely work out an agreement on harvesting and replanting the land. D. that implies that government owns and regulates its use.