An emerging industry is an industry in which a large number of small or medium-sized firms operate and no small set of firms has a dominant market share or creates dominant technologies.TrueFalse
Category: Economics
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(Answered) Berna hears a report that the unemployment rate is now 7 percent. This is a:positive microeconomic…
Berna hears a report that the unemployment rate is now 7 percent. This is a:
positive microeconomic topic.
normative microeconomic topic.
normative macroeconomic topic.
positive macroeconomic topic. -
(Answered) According to Davis and Blomstrom, the idea of what is that decision makers are obligated to take…
According to Davis and Blomstrom, the idea of what is that decision makers are obligated to take actions that protect and improve the welfare of society as a whole along with their own interests.
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(Answered) If an agricultural pesticide costs $10 per gallon to produce and it adds $3 worth of damage when it…
➤ How can policymakers correct this negative externality from pesticide runoff?
Policymakers can use a Pigouvian tax equal to the marginal external cost (here $3), tradable permits, runoff limits, or subsidies for safer alternatives. These tools internalize external costs so producers factor environmental damage into output decisions, reducing pollution and moving production toward the socially optimal level. -
(Answered) According to the article “Why did the Federal Reserve start paying interest on reserve balances”,…
According to the article “Why did the Federal Reserve start paying interest on reserve balances”, when did the Fed start paying interest on reserve balance?Group of answer choices2006200820102011
2006
2008
2010
2011 -
(Answered) Consider the following production possibility curve. What is the opportunity cost of producing one…
Consider the following production possibility curve. What is the opportunity cost of producing one more cowboy hat? (Answer to the nearest tenth of a toothpick. Eg. 3.2,9.6. Use only ponumbers.)
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(Answered) A rational person does not act unless the action… q,doesn’t involve sunk costsproduces marginal…
A rational person does not act unless the action…
doesn’t involve sunk costs
produces marginal benefits that exceed marginal costs
generates revenue
produces average benefits that marginal costs -
(Answered) Global financial markets operate under a system called floating exchange rates, in which currencies…
Global financial markets operate under a system called floating exchange rates, in which currencies “float” according to the supply and demand in the global market for the currency. true or false
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(Answered) A good with many close substitutes is likely to have relatively ?()??????demand, because consumers…
➤ How should firms respond when demand is elastic?
Firms facing elastic demand usually avoid raising prices because revenue falls. They may cut price to increase sales, improve product differentiation, invest in branding, or reduce costs. Price promotions and bundling can also attract price-sensitive consumers, while innovation can reduce elasticity by creating unique features. -
(Answered) Which of the following principles reminds us to ignore sunk costs? All or none principle…
Which of the following principles reminds us to ignore sunk costs?
All or none principle
Marginalism principle
Interdependency principle
Cost/benefit principle
Opportunity cost principle