If the firm operated at optimum efficiency, how much would its output be?
5.7
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Analogies between public and private debt are usually misleading
a. True b. False Indicate whether the statement is true or false
In a market-oriented economy, _____
a. buyers and sellers get together to make economic decisions about the four fundamental economic questions b. an exchange is made without any agreement on immediate or future rewards c. the government makes economic decisions about the four fundamental economic questions d. goods and services are directly exchanged for other goods or services
Recall the Application about the decrease in taxes on cigarettes in several Canadian provinces in 1994 to answer the following question(s). According to this Application, after the government deceased cigarette taxes in several Canadian provinces, demand for cigarettes ________ in these provinces, shifting the demand curve to the ________.
A. increased; right B. increased; left C. decreased; right D. decreased; left
A subsidy is sometimes used by government to correct the problems associated with
A) negative externalities. B) positive externalities. C) internal benefits. D) external benefits.