In the New Keynesian View a Monopolistically Competitive Firm May

question 13

Multiple Choice

In the new Keynesian view a monopolistically competitive firm may fail to increase the price of its product as demand increases because

• A)if it does so it will lose all of its customers.
• B)the cost to it of changing prices may exceed the benefit of doing so.
• C)prices of monopolistically competitive firms are regulated by the federal government and may only be changed with permission.
• D)for a monopolistically competitive firm, price is below marginal cost.

Understand the concept and legal implications of uttering a forged instrument.

Comprehend the rights of bank customers under the Check 21 Act.

Identify the roles and responsibilities in electronic fund transfers.

Know the effects of bank obligations and customer rights regarding check deposits and withdrawals.

---

Definitions:

Geologic Timescale

A system used by geologists to describe the timing and relationships between events that have occurred throughout Earth's history.

Stratigraphic Timeline

A chronological ordering of layered sedimentary rocks, representing the sequential events in the Earth's geologic history.

Mesozoic Era

A major subdivision of geologic time from 251 million years ago (Ma) to 65 Ma; characterized by dinosaurs.

Jurassic Period

A geologic period and system that occurred about 201 to 145 million years ago, known for the prevalence of dinosaurs and the breakup of the supercontinent Pangea.