The range of output for a duopoly ranges between the
A) perfectly competitive outcome and the monopolistically competitive outcome.
B) efficient scale and the perfectly competitive outcome.
C) minimum of ATC and the efficient scale.
D) monopoly outcome and the perfectly competitive outcome.
E) short-run perfectly competitive outcome and the long-run perfectly competitive outcome.
D
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Which of the following is NOT a correct statement about the Federal Reserve banks?
A) They supervise member banks within the Federal Reserve System. B) They provide a system of check collection and clearing. C) They provide the economy with gold backed currency. D) They act as banker and fiscal agent for the U.S. government.
A risk-neutral individual will:
A. accept only better-than-fair gambles. B. accept only gambles with an expected value of zero. C. accept only gambles with an expected value of zero or greater. D. see risk as neither good nor bad.