The idea that it takes 90 percent of your time to clean up the last 10 percent of your house illustrates that
A) the marginal cost of cleaning up slopes downward.
B) the marginal cost of cleaning up slopes upward.
C) the marginal benefit of cleaning up is constant.
D) the marginal benefit of cleaning up slopes upward.
B
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Suppose the market for grass seed can be expressed as:
Demand: QD = 100 - 2p Supply: QS = 3p If government imposes a $5 specific tax to be collected from sellers, what is the price consumers will pay? How much tax revenue is collected? What fraction is paid by sellers?
The Clayton Act prohibits all horizontal mergers, regardless of their economic consequences
a. True b. False
MNEs are attracted to regional trading groups because of their large market sizes and production locations, and because they ________.
A) are good sources for raw materials B) implement trade restrictions C) offer both internal and external tariffs D) have very little competition
Productive efficiency means that goods and services are being produced by society in the least costly way.
Answer the following statement true (T) or false (F)