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What distinguishes the long run from the short run is that in the long run,

The main characteristics of a market setting called “monopolist competition” include which of the following?

We have the following data set:  2, 3, 17, 19, 5, 8, 9, 10, 11, 13, 18, 22, 23. What is the sample mean of the data?  _______

If six workers can produce 25 stoves a day, and seven can produce 29 stoves a day, the marginal product of the seventh worker is

Now that cell phones are dominant, what do you think has happened with the price elasticity of demand for land-line phone services?

Is the quantity produced in a monopolistically competitive industry the “efficient” quantity?

If a large tax was applied to charcoal that tripled the price of charcoal, ___________.

Consider the situation of Saudi Arabia and Nigeria, both of whom are members of OPEC, which is the Organization for Petroleum Exporting Countries.  Relative to Nigeria, Saudi Arabia produces oil at a lower cost and has significantly more oil reserves.  The payoff matrix above shows the profits each country can earn (per day), depending on the choices of the two countries.  Producing “low output” means sticking to the production limits in accordance with OPEC requirements, while “high output” means producing the maximum quantity possible and ignoring the OPEC production limits. For Saudi Arabia, is there a dominant strategy?  If so, what is it?

The deadweight loss caused by a monopoly would be shown as the area bounded by which points?

You attend a party where you do not know anyone but expect that people will be friendly. You meet people warmly and in a sociable manner. Your actions, in turn, lead to other people being friendly to you. This situation can best be described as what?