Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point E necessarily represents
A. only motorcycles being produced.
B. overallocation of resources.
C. an impossible production point.
D. technological advancement.
Answer: A
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How do legal controls on prices lead to corruption?
A. Persons who benefit from the controls are willing to bribe officials to keep the controls in place. B. Persons who make the laws may favor certain groups at the expense of others. C. Selling in the black market is very profitable, and persons therefore willingly break the law. D. Discrimination may occur as a means to limit buying or selling select groups. E. All of these responses are correct.
Explain why using a firm's profits to reinvest in the company is really not "free borrowing"?
What will be an ideal response?
The issuing of tradeable pollution permits is a government-involved approach to dealing with pollution.
Answer the following statement true (T) or false (F)
Refer to Table 21.5: Table 21.5QTFCTVCTCAVCMC0 15--1 23 2 43 15 The total cost of 3 units of output in Table 21.5 is
A. $30. B. $23. C. $38. D. $15.