1) Investing in R&D is more likely to occur in markets whereA. firms have monopo

1) Investing in R&D is more likely to occur in markets whereA. firms have monopoly power protected by regulatory barriersB. markets are closely competitive markets with close to zero economic profitsC. markets are oligopoly markets with strong collusion agreementsD. markets are monopolistic competitive markets2) All economies of scale are achieved at the minimum ofA. average total costB. total costC. average variable costD. average fixed cost3) Inflation is undesirable because itA. arbitrarily redistributes real income and wealthB. invariably leads to hyperinflationC. usually is accompanied by declining real GDPD. reduces everyone s standard of living in the same proportion4) An economy s aggregate demand curve shifts leftward or rightward by more than changes in initial spending because of theA. net export effectB. wealth effectC. real-balances effectD. multiplier effect