Author Question: According to the new growth theory, competition A) reduces profit. B) increases profit. C) has ... (Read 92 times)

debasdf · **on:** Jun 29, 2018

According to the new growth theory, competition

A) reduces profit.
B) increases profit.
C) has no impact on real profit, only nominal profit.
D) is only theoretical because all firms are growing at some rate.

Question 2

A rent ceiling creates a shortage. As a result, which of the following occurs?

A) only a loss of consumer surplus for tenants
B) only a loss of producer surplus for landlords
C) a loss of both consumer and producer surplus
D) a gain of both consumer and producer surplus