In oligopoly, any action by one firm to change price, output, or quality causes
A) a reaction by other firms.
B) no reaction from the other firms.
C) a profit gain for the other firms.
D) loss of market share by the acting firm.
Answer: A
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Refer to the data. What level of total utility does the rational consumer realize in equilibrium?
Answer the question on the basis of the following total utility data for products L and M. Assume that the prices of L and M are $3 and $4 respectively and that the consumer's income is $18.
A. 87 utils.
B. 104 utils.
C. 51 utils.
D. 58 utils.
Which of the following lists tax revenue sources from greatest to least?
A. individual income taxes, social insurance taxes, corporate income taxes, excise and other taxes B. corporate income taxes, social insurance taxes, individual income taxes, excise and other taxes C. individual income taxes, corporate income taxes, social insurance taxes, excise and other taxes D. social insurance taxes, excise and other taxes, individual income taxes, corporate income taxes