The change in fixed costs over the short run is seen in the behavior of marginal costs
Indicate whether the statement is true or false
False
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A new country has been established on the moon and created a currency called cheesybits. Which of the following represents a supply of cheesybits?
A. Han is visiting the moon and wants to eat at his favorite restaurant, the Moonglow Bar and Grill. B. Luna lives on the moon and wants to travel to visit relatives in Japan. C. Moonbeam Incorporated, the largest company on the moon, sells building products for houses on the moon. D. Spacejunk Corporation sells recycled spacecraft parts to Rockets-R-Us in California.
A possible reason a nation might impose a protectionist policy such as a tariff is to
A) encourage specialization in the good in which the nation has a comparative advantage. B) protect an infant industry from foreign competitors. C) increase the level of imports. D) slow domestic production.
To become wealthy you have to either work at a job or learn how to duplicate yourself, but you cannot do both.
Indicate whether the statement is true or false.
Suppose the domestic supply (QS) and demand (QD) for MP3 players in the United States is represented by the following set of equations:QS = -25 + 10PQD = 875 - 5PIf the United States engages in free trade and the international price of MP3 players is $50, it would import ________ MP3 players from the rest of the world.
A. 225 B. 250 C. 475 D. 150