Entrepreneurs tend to have a comparative advantage in
A) arbitrage.
B) manipulating market prices.
C) stealing other people's ideas.
D) selling their products below cost.
E) hiring others to act as residual claimants.
A
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The Justice Department generally challenges any merger that meets the following two conditions: (1) the post-merger HHI exceeds 1,800 and (2) the merger increases the index by more than 100 points
a. True b. False
Suppose the fixed cost of building a nuclear power plant is $1 billion. Suppose also that the only variable cost is the labor of Homer Simpson, and he earns $10 per hour. If the plant generates 1,000 kilowatts each hour, and has already generated 1 billion kilowatts, what can you say about the marginal cost of the next kilowatt?
a. The marginal cost is equal to $10 . b. The marginal cost is equal to $.01. c. The marginal cost is equal to $1.01. d. The marginal cost is rising. e. The marginal cost is falling.