Refer to the data. The value for W is:

Which of the following is NOT an assumption of the initial Cournot Oligopoly Model?

A) Market lasts for only one period. B) Firms act simultaneously. C) Firms have same cost functions. D) Firms produce differentiated products.

As the rate of inflation increases, the increased cost to a consumer of more frequent trips to the bank to make cash withdrawals represents an increase in the:

A. tax distortion generated by inflation. B. erosion of the purchasing power of cash. C. "noise" in the price system. D. shoe leather costs of inflation.