In the long run, the supply curve
A. is less elastic than it is in the short run.
B. is more elastic than it is in the short run.
C. exhibits no change in elasticity at all.
D. exhibits no systematic sequence of changes in elasticity.
Answer: B
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Evidence that most investors are risk averse is that they
A) buy a diversified portfolio. B) buy different bonds with the same yield and maturity. C) put most of their funds in one company's stock. D) like to gamble.
What would be the Nash equilibrium of this simultaneous game?
a. Hit, Tell b. Not hit, Tell c. Hit, Not tell d. Both B&C
When measuring GDP, only final goods and services are counted in order to avoid double counting
Indicate whether the statement is true or false
Sulfur Dioxide Discharged (Tons)Firm AFirm B10$10,000$12,000911,00017,000813,00022,000716,00026,000620,00033,000
Table 9.8 shows the production cost for two utilities at different levels of sulfur dioxide emissions. Assume that the government issued 8 marketable pollution permits to each firm. If the two firms were to voluntarily trade pollution permits, how many permits would be swapped?
A. 0 B. 1 C. 2 D. 3