The long run outcome of the monopolistically competitive firm:
A. is not efficient.
B. does not maximize profits.
C. is the same as the short-run outcome.
D. maximizes total surplus.
A. is not efficient.
Economics
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Suppose that the CPI basket contains only 40 heads of cauliflower and 60 bunches of broccoli. If the price of cauliflower goes down by $1 per head and the price of broccoli goes up by $1 per bunch, then
A) the CPI decreases. B) the CPI does not change. C) the CPI increases. D) the CPI might increase or decrease depending how the quantities are affected by the price changes. E) There is not enough information to answer this question.
Economics
If the reserve ratio is 4 percent, then the money multiplier is
a. 24. b. 25. c. 26. d. 4.
Economics