A supply schedule can be plotted on a graph to yield a supply curve.
Answer the following statement true (T) or false (F)
True
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Define capital. Explain the relationship between investment and capital
What will be an ideal response?
If a firm's short-run average cost curves are u-shaped, does this imply that the long-run average cost curve must also be u-shaped?
What will be an ideal response?
Which of the following statements is false?
A. Government can remove individuals from a prisoner's dilemma setting and make them better off. B. In a prisoner's dilemma setting, it is impossible for the government to define and enforce property rights that the individuals involved in the setting want to have defined and enforced. C. As long as government charges each individual in a prisoner's dilemma setting a tax that is less than the gain received by being removed from the setting, then government has made the individuals better off. D. Depending upon the amount of the tax charged to each individual in a prisoner's dilemma setting, the government can make both persons better off, both persons worse off, or one person better off and the other person worse off.
State and local income taxes should be deducted from federal income tax.
A. True B. False C. Uncertain