A country producing a combination of 9 units of guns and 6 units of butter would be _____________ (outside/on/inside) the production possibilities curve.
on
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Consider three pricing strategies that the firm can pursue:
a. optimal two-part tariff pricing b. perfect price discrimination c. single-price monopoly pricing. Of these three strategies, which is least likely to benefit society as a whole? A) single-price monopoly pricing because there are mutually beneficial trades (between consumers and seller) that are not exploited B) Both perfect price discrimination and two-part tariff pricing do not benefit society because the entire consumer surplus is extracted by the producer. C) perfect price discrimination because those willing to pay higher prices are forced to subsidize those who are not D) a two-part tariff pricing because consumers have to pay a fixed fee in addition to a per-unit price
When negative externalities from production exist, the deadweight loss from a competitive market may be larger than with a monopoly
What will be an ideal response?
Money is:
A. the clearest example of something that is fungible. B. always recognized as fungible by individuals. C. more fungible in cash form versus as checking account balances. D. All of these are true.
One of the most important forms of capital income is
A. wages. B. profits. C. rent. D. depreciation.