A perfectly competitive firm with a random demand has an expected marginal revenue that is ________ its expected price.
A) greater than
B) exactly double
C) less than
D) equal to
D) equal to
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Consider a small open economy in equilibrium. What happens to the real interest rate, national saving, investment, and the current account balance in equilibrium in each of the following situations (each taken separately)
Explain which curve shifts and why, and show a diagram explaining your results. (You may assume that none of the shocks is large enough to significantly affect labor supply or labor demand significantly.) (a) wealth declines (b) business taxes decline (c) income rises temporarily
The higher the HHI
A) the less dominated a market is by a single firm. B) the more competitive is the market. C) the more dominated a market is by a single firm. D) the less likely the Sherman Act will be applied to a firm.