A positive externality is one in which there is an external benefit bestowed on a third party>
a. True
b. False
A
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Q = K1/2L1/2 w = $2, r = $2 The firm would like to know the minimum cost of producing 2000 units of output. Find the combination of inputs that minimizes the cost of producing 2000 units, the total cost, and identify the expansion path
What will be an ideal response?
If, at its profit-maximizing output level, the price of the good is less than average variable cost, the firm should shut down immediately
Indicate whether the statement is true or false
If the CPI rises, the number of dollars needed to buy a representative basket of goods
a. increases, and so the value of money rises. b. increases, and so the value of money falls. c. decreases, and so the value of money rises. d. decreases, and so the value of money falls
According to Kathryn Edin and Laura Lein, virtually all poor single mothers supplemented their income with money from _______________________.
Fill in the blank(s) with the appropriate word(s).