Juanita has just opened a new business selling pet supplies through the Internet
A) Juanita is an entrepreneur.
B) Juanita is not providing economic goods since people purchase the goods.
C) Juanita is not providing economic goods since pet supplies are not being sold in a store.
D) Juanita is not an entrepreneur since there are other businesses that sell pet supplies.
A
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The perfectly competitive firm's marginal revenue curve is
A) exactly the same as the marginal cost curve. B) downward-sloping, at twice the (negative) slope of the market demand curve. C) vertical. D) horizontal. E) upward-sloping.
Economies of scope are savings acquired by
a. producing many goods simultaneously. b. producing enough of one good to reach the minimum efficient scale of production. c. selling one product at a loss but selling other products at a profit. d. decreasing the regulation of an industry.