Which of the following is NOT studied in microeconomics?
A) the effect of an increase in gasoline taxes on the purchase of gasoline
B) the impact of an increase in the unemployment rate on economic production
C) the impact of firms' collective hiring choices on the aggregate unemployment rate
D) the impact of higher fuel prices on the cost of airline tickets
B
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Which of the following is NOT an advantage of firm coordination of economic activity?
A) Firm coordination decreases transactions costs. B) When firms coordinate economic activity, there are no opportunity costs. C) Firms can take advantage of the economies of team production. D) Economies of scope can be realized by firms that produce a range of goods and services that share specialized resources.
In monopolistic competition, in the long run firms have
A) a capacity shortage. B) excess capacity. C) an economic profit. D) an economic loss.