In an imperfectly competitive output market, the firm is faced with a(n) ________ MPP curve and a(n) ________ MR curve.

A. upward sloping; downward sloping
B. downward sloping; horizontal
C. downward sloping; downward sloping
D. downward sloping; upward sloping

Answer: C

Economics

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A more complex view of the incentives facing a bureaucrat _____

a. shows that bureaucrats might prefer to maximize their discretionary budget over their total budget b. shows that bureaucrats might prefer to always act in the public interest, if they believe in their bureau's mission. c. shows that the incentives facing a bureaucrat are simple and never conflict with one another. d. shows that the bureaucrats may about increasing their own income but their power and prestige

Economics

The former Soviet Union was known for black markets. An explanation for the existence of these illegal markets is that:

a. goods were not subject to price controls. b. the government imposed a price ceiling below the equilibrium price. c. the government imposed a price ceiling above the equilibrium price. d. all of these.

Economics