Deterrence quantity is always equal to the zero profit quantity.
Answer the following statement true (T) or false (F)
False
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The number of live births per 1000 people in the population per year is the
(a) hidden momentum of population growth. (b) population growth rate. (c) demographic transition. (d) crude birth rate.
Maximizing the utility of the person with the minimum utility is known as
A. the minimax criterion. B. the maximin criterion. C. the Hicks-Kaldor criterion. D. the Corlett-Hague Rule.
Suppose group price discrimination is possible but a firm chooses not to and sets the same price in each market. As a result
A) price elasticity of demand is the same in each market. B) the price-inelastic market will buy zero units. C) marginal revenue in the more price-elastic market exceeds marginal revenue in the less price-elastic market. D) the deadweight loss is less than if the firm price discriminated.
The substitution effect of a price change ________ consistent with the Law of Demand.
A. is always B. is never C. is usually D. for inferior goods is not