Berto is trying to decide between buying a mid-sized car and a pickup truck. To make this decision rationally, he should ______ the marginal utilities generated by the two, as well as their prices.
a. anchor
b. compare
c. multiply
d. frame
b. compare
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Suppose that the market price of good X equals the firm's cost of producing that good, but it does not reflect any costs imposed on society. Which of the following is FALSE?
A) The good is priced too low. B) An external benefit is associated with good X. C) Resources are over-allocated in the production of good X. D) Too much of good X is being produced.
The United States has experienced both budget surpluses and deficits since 2000.
The horizontal dotted line is
A. a price ceiling.
B. a price floor.
C. the price at which quantity supplied equals quantity demanded.
D. the equilibrium price for this graph.
There is clear evidence of a race-to-the-bottom internationally, regarding working conditions and the environment
Indicate whether the statement is true or false