Pencils are produced in the market economy
A) only because people need pencils.
B) only because pencil production is centrally planned, from the growing of the trees and mining of the graphite to the final stages of pencil assembly.
C) even though the final assemblers of pencils have no idea how to produce the paint, graphite, wood, rubber, and metal ferrules.
D) by government decree.
C
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When new firms enter a monopolistically competitive industry, each existing firm's
A) demand curve shifts rightward. B) demand curve shifts leftward. C) marginal cost curve shifts rightward. D) marginal cost curve shifts leftward.
If you purchased a newly issued 30-year bond from Google with a face value of $3,000 and a coupon payment of 6 percent, Google would pay you
A) $180 per year for 30 years plus $3,000 at the end of the 30th year. B) $100 per year plus 6 percent per year for 30 years. C) $100 per year for 30 years plus $3,000 at the end of the 30th year. D) $180 per year for 30 years.