Happy Feet wants to prevent Best Nails from entering the nail salon market. If Happy Feet expands its capacity, the expansion can lead to all of the following except which one?
A) increase Happy Feet's profit-maximizing quantity
B) decrease Happy Feet's profit-maximizing price
C) increase Happy Feet's marginal cost
D) decrease Best Nails' profit from entering the market
C) increase Happy Feet's marginal cost
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The result of the supply shocks of 1973-1974 was to
A) reduce aggregate output and raise the price level. B) reduce the price level and raise aggregate output. C) reduce both aggregate output and the price level. D) raise both aggregate output and the price level.
The wealthiest 10 percent of the population owns about
A) 30 percent of all the wealth in the United States. B) 50 percent of all the wealth in the United States. C) 70 percent of all the wealth in the United States. D) 90 percent of all the wealth in the United States.