The military is NOT a perfectly competitive market because
A) there is only one buyer, i.e., the government, for military goods/services.
B) there is imperfect information, i.e., intelligence branches.
C) there are heterogeneous goods/services because each military branch provides different goods/services.
D) All of the above.
D
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When firms spend more on additional holdings of raw materials, parts and finished goods ________
A) they are increasing their fixed investment B) they are increasing their inventory investment C) they are increasing their private consumption D) all of the above E) none of the above
Refer to the diagram. The movement down the production possibilities curve from point A to point E suggests that the production of:
A. computers, but not bicycles, is subject to increasing opportunity costs.
B. bicycles, but not computers, is subject to increasing opportunity costs.
C. both bicycles and computers is subject to constant opportunity costs.
D. both bicycles and computers is subject to increasing opportunity costs.