A. There is a kink in the marginal cost curve
B. Demand is price inelastic
C. Demand is price elastic
D. non-price competition is likely
A. balance of trade
B. comparative advantage
C. balance of payments
D. terms of trade
A. in monopolistic competition entry into the industry is blocked
B. in monopolistic competition there are relatively few barriers to entry.
C. in monopolistic competition, firms can differentiate their products
D. in perfect competition firms can differentiate their products
A. an equal percentage change in nominal DGP.
B. an equal percentage change in real GDP
C. a larger percentage change in nominal GDP
D. a smaller percentage change in nominal
A. 6429 Kilometer
B. 3344 Kilometer
C. 6234 Kilometer
D. 6345 Kilometer
A. Pareto goods
B. public goods
C. private goods
D. free goods
A. People give too much weight to a small number of vivid observations
B. People easily change their minds when confronted with new information
C. People enjoy going to the doctor
D. People tend to plan ahead and follow through on their plans