Which of the following four firms would most likely be part of a monopolistically competitive market?
A) Lee, J Brand, Joe's Jeans, Paper Denim & Cloth, Levi's, and Wrangler are all producers of jeans.
B) Mark sells the tomatoes he grew in his backyard at the local farmers market.
C) The WaveHouse is the only place in San Diego where you can ride an indoor 10 foot wave.
D) Amara Massage is the only firm which specializes in pre- and post-natal massage.
A
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A government budget deficit is financed by a combination of
A) saving rising relative to domestic investment and imports rising relative to exports. B) saving rising relative to domestic investments and exports rising relative to imports. C) domestic investment rising relative to saving and imports rising relative to exports. D) domestic investment rising relative to saving and exports rising relative to imports.
The principle of comparative advantage says that
a. every individual should specialize in producing that good for which the absolute cost is the smallest b. the output of society as a whole will be the greatest if every individual specializes in producing that commodity for which his opportunity cost is the smallest c. monopoly power is gained by specializing in a large market and reducing costs d. monopoly power is gained by specializing in a small market and producing a differentiated product e. your financial investments should be "compared" in a common fashion to determine your maximum advantage