Which is most likely to be observed in a community where legal ceilings are imposed on residential rents?
A. Poor people will be able to find adequate housing
B. Homeowners will reduce their own use of housing space, making more available to others
C. Those whose needs for housing are most urgent will be able to obtain the space they want
D. People moving into the community will have difficulty locating residential space to rent
D. People moving into the community will have difficulty locating residential space to rent
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According to Keynes, the aggregate supply curve is
a. vertical in both the long run and the short run. b. vertical only in the long run. c. vertical only in the short run. d. never vertical.
Most innovations come from just a few large industries
a. True b. False Indicate whether the statement is true or false
Tom is willing to contribute $400 toward building a public park, Jack is willing to contribute $500, and Joe is willing to contribute $750
What is the total marginal value for the park if Tom, Jack, and Joe are the only residents in the neighborhood where the park is being built? A) $1,650 B) $1,050 C) $3,300 D) $2,350
Which of the following is true at each output level for a perfectly competitive firm?
a. MC = AVC = ATC b. MR = MC c. P > AVC d. AR = MR = P e. MR = AR = MC