An imperfectly competitive firm faces a demand curve that is ________, while a perfectly competitive firm faces a demand curve that is ________.
A. perfectly inelastic; downward sloping.
B. perfectly inelastic; perfectly elastic.
C. horizontal; downward sloping.
D. downward sloping; perfectly elastic.
Answer: D
Economics
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Bank reserves are increased by
A) Treasury currency outstanding. B) Treasury cash holdings. C) Federal Reserve capital. D) currency in circulation.
Economics
The law of increasing opportunity cost implies that
A) producing additional units of one good results in proportionately smaller reductions in output of the other good. B) producing additional units of one good results in increasing amounts of lost output of the other good. C) the production possibilities curve will be a straight line. D) the society will be producing on its production possibilities curve.
Economics