The above figure shows the market demand curve for long-distance telephone calls
Suppose the marginal cost of a long-distance telephone call is 2¢ a minute for a call no matter how many minutes of calls are made and there are 3 firms in the industry. If the firms in the industry operate as perfect competitors, there are ________ minutes of calls made per hour. A) between 0 and 3 million
B) more than 3 million and less than or equal to 5 million
C) more than 5 million and less than or equal to 7 million
D) more than 7 million and less than or equal to 9 million
E) more than 9 million
D
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Americans generally pay
a. a lower percentage of their incomes in taxes than citizens of other industrialized countries. b. a lower percentage of their incomes in taxes than citizens of other industrialized countries, with the exceptions of Sweden and the Netherlands. c. about the same percentage of their incomes in taxes as citizens of other industrialized countries. d. a higher percentage of their incomes in taxes than citizens of other industrialized countries.
Capital flight increases a country's interest rate. This increase in the interest rate makes net capital outflow lower than it would be had the interest rate stayed the same
a. True b. False Indicate whether the statement is true or false