A private cost is a cost of production that is
A) borne by the producer of a good.
B) measured in marginal terms.
C) borne by someone other than the producer of a good.
D) measured in total terms.
A
You might also like to view...
Marginal fixed costs decrease as output increases.
Answer the following statement true (T) or false (F)
Suppose there is an increase in both the supply and demand for personal computers. Furthermore, suppose the supply of personal computers increases more than demand for personal computers. In the market for personal computers, we would expect the
a. equilibrium quantity to rise and the equilibrium price to rise. b. equilibrium quantity to rsie and the equilibrium price to fall. c. equilibrium quantity to rise and the equilibrium price to remain constant d. equilibrium quantity to rise and the change in the equilibrium price to be ambiguous. e. change in the equilibrium quantity to be ambiguous and the equilibrium price to rise.
Khalid’s country is small and lacks abundant natural resources. Which of the following is most likely true about economic growth in Khalid’s country?
a. Khalid’s country should have economic growth at approximately the same rate as a country with abundant natural resources. b. Meaningful and sustained economic growth is highly unlikely for Khalid’s country. c. The lack of natural resources poses an obstacle to initial development, but the country’s economy can still grow. d. Khalid’s country will remain poor even if its neighbors enjoy economic growth and prosperity.
Why do free trade proponents dislike rules of origin in trade agreements?
A. It decreases the amount of international trade in the world. B. It decreases incentives for trade diversion. C. It increases the amount of international trade in the world. D. It increases incentives for trade deflection.