Refer to the figure above. If the optimal number of machines rented is 100, the market rental price must be:
A) $3 per month.
B) $4 per month.
C) $5 per month.
D) $7 per month.
B
Economics
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Which of the following is not a characteristic of an oligopolistic industry?
A) Substantial barriers to entry. B) The output produced by the firms in the industry may be homogeneous or differentiated. C) A small number of large firms. D) One dominant firm and low entry barriers.
Economics
Consumer equilibrium occurs where the budget line is tangent to the:
a. lowest possible indifference curve. b. highest possible indifference curve. c. utility maximizing indifference curve. d. utility equalization indifference curve.
Economics