When a perfectly competitive firm weighs price and marginal cost and no externalities exist, it is weighing the ________ benefits to society of additional production against the ________ costs to society of that production.
A. full; marginal
B. full; full
C. marginal; full
D. marginal; marginal
Answer: B
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A change in demand cannot be caused by a change in
a. tastes b. population c. the prices of other goods d. expectations of future prices e. the price of the good itself
Between 2000 and 2013, the world added more than 100 billion tons of carbon to the atmosphere. Between 1998 and 2013, the earth's temperature
a. rose by approximately 3 degrees Fahrenheit. b. rose by approximately 2 degrees Fahrenheit. c. showed no significant change. d. fell by 1.4 degrees Fahrenheit.
Which of the following is not a form of commodity money?
A. checks B. precious stones C. cigarettes D. all of the above
Write down a model that will allow you to analyze the BOP and exchange rate in a monetary framework. Then, discuss the consequences of an increase in the foreign inflation rate under fixed, flexible, and managed floating systems
What will be an ideal response?