Negative externalities result in unfair, excessively high prices
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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When the strong enforce rules possibly based on arbitrary decisions, it is called the:
A. rule of force B. rule of one C. rule of man D. rule of law
Economics
If the value of price elasticity of demand for a good is equal to "?", it implies that the good has a ________ demand
A) perfectly elastic B) perfectly inelastic C) unit elastic D) relatively inelastic
Economics
Whenever MC of the last unit produced of a good is greater than its MU, society can benefit from decreasing the output of that good.
Answer the following statement true (T) or false (F)
Economics
The reductions in the cost of a single unit that result from large scale output of that product are called
What will be an ideal response?
Economics