The price of computers has fallen each year for the last 30 years. This is probably an example of the working of:
A. nonmarket forces.
B. economic forces.
C. political forces.
D. social forces.
Answer: B
Economics
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One problem with the utilitarian principle is that it ignores
A) increasing marginal costs. B) decreasing marginal benefits. C) the costs of making income transfers. D) poor people.
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Explain why selling output at a price below that at which marginal revenue equals marginal cost (MR = MC) might serve to deter entry of a potential competitor
What will be an ideal response?
Economics
The U.S. Postal Service enjoys a monopoly position because of patent rights
a. True b. False Indicate whether the statement is true or false
Economics
Most economists think that it is impossible to prevent asset price bubbles
a. True b. False Indicate whether the statement is true or false
Economics