Betty's Bagels makes and sells bagels from their local bakery. If Betty's Bagels become more popular with local residents and the probability of selling additional bagels increases, Betty's expected marginal benefit curve from holding additional bagels in inventory will shift to the ________ and the profit-maximizing number of bagels to hold in inventory will ________.
A) right; decrease
B) left; increase
C) left; decrease
D) right; increase
D) right; increase
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If imports of Japanese automobiles are restricted, prices of U.S-made automobiles in the United States will be higher than they would otherwise be
Indicate whether the statement is true or false
Explain the relationship between ?TC/?q and ?VC/?q.
What will be an ideal response?
According to the text, standard economic models, based on self-interest where calculations appear to be made for every decision,
A. describe the motivations of people but fail as useful predictors of behavior. B. are often criticized by other social sciences that use less formal modeling. C. are accurate descriptions of human behavior and the motivations that drive it. D. provide good predictions of behavior even if they don't describe what actually happens.
Comparing developed and developing nations in their use of tariffs, we see that
A) the developing nations' governments get very little revenue from tariffs. B) both governments get large amounts of revenue from tariffs. C) many developing nations' governments get a large portion of their revenue from tariffs. D) developing nations almost never impose tariffs because they want their people to obtain goods and services at the lowest possible price. E) developed nations rely much more than developing nations on tariff revenue.