Which of the following is characteristic of indifference curves?
a. They are negatively sloped.
b. They never intersect.
c. They are convex toward the origin.
d. All of the above are correct.
d
Economics
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Which of the following is an obstacle that would reduce the likelihood of effective collusion among oligopolists?
a. a highly inelastic market demand for the product b. a small number of firms in the market c. production of a homogeneous product d. highly unstable demand for the product
Economics
This table shows price and quantity produced for a single firm in a perfectly competitive market.PriceQuantity$1023$1024$1025$1026Given the information in the table shown, what is the marginal revenue when 25 units are produced?
A. $10 B. $25 C. $20 D. $250
Economics