Factors that impede the attainment of economic efficiency in the public sector are called:

From 1970 to 2006, average real income for the top 5% of U.S. households

A) decreased by more than 10%. B) remained virtually unchanged. C) increased by about 5%. D) almost doubled.

A firm in an oligopolistic industry has the following demand and total cost equations:

P = 600 - 20Q and TC = 700 + 160Q + 15Q2 Calculate: a. quantity at which profit is maximized b. maximum profit c. quantity at which revenue is maximized d. maximum revenue e. maximum quantity at which profit will be at least $580 f. maximum revenue at which profit will be at least $580