For a common resource, the marginal social cost of the resource is ________ the marginal private cost
A) greater than
B) equal to
C) less than
D) not comparable to
A
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Describe the four determinants of exchange rates in the long run
What will be an ideal response?
When making investment decisions, investors
a. compare the real interest rates offered on different bonds. b. compare the nominal, but not the real, interest rates offered on different bonds. c. purchase the highest-priced bond available. d. All of the above are correct.
The observation that after some point, successive equal size increases in a variable factor of production, such as labor, added to fixed factors of production, will result in smaller increases in output is the
A. streamlining production function. B. law of diminishing marginal product. C. theory of increasing marginal utility. D. consumer equilibrium.
A software company writes a better operating system for personal computers and earns very large profits on this operating system. Which of the following is true?
A. The profits this firm earns are a return for an innovation. B. This firm must not be in a competitive market if it was able to earn a profit. C. The profits this firm earns aren't deserved, as the firm did not take any risks. D. The firm must be a monopoly.