Monopolistic competition vs perfect competition

How to apply the lean startup?

Due to a drought in Georgia, the market price for peanuts rises by 20% nationwide. If the price elasticity of demand for peanuts is 0.8, what would happen to total revenue for peanut farmers who were not affected by the drought?

A progressive tax is one in which

Farmer Jones is producing wheat, and must accept the market price of $6.00 per bushel. At this time, her average total costs and her marginal costs both equal $8.00 per bushel. Her average variable costs are $5 per bushel.

Carlos manages a grocery store in a country experiencing a high rate of inflation. To keep up with inflation, he spends a lot of time every day updating the prices, printing new price tags, and sending out newspaper inserts advertising the new

Gaston owns equipment that cost $17,000 with accumulated depreciation of $3,400. Gaston sells the equipment for $12,200.

If the supply of loanable funds exceeds the demand then borrowers will bid up the interst rate. True / False.

The scientific method begins with A. the development of a formal hypothesis. B. the gathering of information. C. the identification of a problem for investigation. D. methodical observation of a phenomenon of interest.

Charles loves watching downton abbey on his local public tv station, but he never sends any money to support the station during its fundraising drives. economists would call charles afree rider.

Georgina is the owner of a company called piquant (which means having a pleasantly sharp taste or appetizing flavor).