When consumers or businessmen stop collecting information to make decisions at the point where marginal cost of data collection equals the marginal utility of the data, economists would call the decisions based on existing data

If the Federal Reserve uses open market operations to offset a recession, the Fed ________ government securities in order to ________ the federal funds rate

A) buys; not change B) sells; raise C) sells; lower D) buys; lower E) buys; raise

One strategic barrier that may keep new firms out of a market is

a. producing where marginal cost equals marginal revenue b. a low minimum efficient scale c. bounded markup pricing d. efficiency wages, which may make it impossible for new entrants to compete profitably e. excess capacity, which may serve as a signal to new entrants to stay away