Which of the following statements is true?
A) Special interest groups are more likely to push for policies that increase the size of the economic pie than to increase their slice of the pie.
B) Special interest groups are likely to push for policies that increase the size of their slice of the economic pie even if it means that the overall size of the economic pie will shrink.
C) Special interest groups are more likely to favor policies that increase the size of their slice of the economic pie than policies that favor economic growth.
D) a and c
E) b and c
E
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A firm sells 1000 units per week. It charges $70 per unit, the average variable costs are $25, and the average costs are $65 . At what price would the firm consider shutting down in the long run?
a. $10 b. $25 c. $65 d. $70
If economic profit is zero, then a normal profit is earned
a. True b. False Indicate whether the statement is true or false
Impact investing is targeted toward:
A. social businesses. B. entrepreneurial ventures. C. those who live on less than $1 a day. D. those in the agricultural sector.
Prohibiting price increases in situations of true scarcity
a. prevents the market mechanism from reallocating resources more efficiently. b. discourages production. c. may lead to extreme shortages of vitally needed products. d. All of the above are correct.