A cartel member has _____ incentive to increase quantity than a standard monopolist.
Fill in the blank(s) with the appropriate word(s).
Ans: more
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If the marginal social benefit of pizza exceeds the marginal social cost of pizza, the economy is producing the efficient quantity of pizza
Indicate whether the statement is true or false
Suppose a U.S.-made machine costs $500 and the exchange rate is 100 yen = $1 . Now the exchange rate changes to 90 yen = $1 . Then the:
a. machine would now cost more dollars. b. machine would now cost the Japanese citizen less yen. c. machine would now cost less dollars. d. machine would now cost the Japanese citizen more yen. e. yen has depreciated in value.
The investment trade-off:
A. is a reduction in current consumption to pay for the investment in capital intended to increase future production. B. is why countries don't devote all their resources to capital investment. C. defines the opportunity cost of capital investment. D. All of these are true.
The economic theory of discrimination suggests that the practice of apartheid in South Africa should have
A. worsened the economic condition of only the blacks. B. worsened the economic condition of only the whites. C. worsened the economic condition of blacks, whites, and others. D. improved the economic condition of the whites.