Marginal revenue for an oligopolist is
A) identical to the demand for the firm's product.
B) difficult to determine because the firm's demand curve is typically unknown.
C) downward sloping beneath the firm's demand curve.
D) horizontal on a price-quantity diagram.
Answer: B
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Goodyear benefitted when the Federal Reserve ________ in 2008. This Fed action would help increase demand for its tires, which allowed Goodyear to increase employment and increase prices
A) implemented a series of open market sales of Treasury bonds B) drove down interest rates C) increased the discount rate D) lowered the required reserve rate
"Cost disease" refers to the tendency for high productivity in the service sector to lead to lower costs in those industries
Indicate whether the statement is true or false