Trade allows a person to obtain goods at prices that are less than that person's opportunity cost because each person specializes in the activity for which he or she has the lower opportunity cost
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following statements is FALSE?
A) Checkable deposits are usually the lowest cost source of bank funds. B) Checkable deposits are the primary source of bank funds. C) Checkable deposits are payable on demand. D) Checkable deposits include NOW accounts.
Third parties do not elect large numbers of candidates in democratic countries with majority rule elections
a. True b. False
Refer to the table below. If Stuffed Pies is currently producing 13 units of quality, to maximize profit, Stuffed Pies should ________ the units of quality.
Stuffed Pies is a frozen calzone manufacturer. The table above summarizes Stuffed Pies' marginal revenue and marginal cost of quality at various quality amounts.
A) not change
B) increase by 50 percent
C) decrease
D) increase
Figure 11-5
In Figure 11-5 are the cost and revenue curves of a monopolist in the theater market, Crown Theater, which is the only movie theater in the city. At its profit-maximizing quantity of tickets sold, movie goers will buy ____ tickets.
A. 60 B. 100 C. 120 D. 140