What do you believe is one of the chief criticisms of the Coase Theorem that render it useless in real-world situations
What will be an ideal response?
A key criticism is that the theorem is almost always inapplicable in economic reality, because real-world transaction costs are rarely low enough to allow for efficient bargaining.
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Which of the following initiates changes in the Fed's discount rate?
a. Board of Governors b. Federal Reserve Banks c. Federal Open Market Committee d. Department of Commerce e. Treasury Department
In 2013, interest payments were about ____ percent of national income
a. 0.51/2 b. 1.29 c. 3.2 d. 4.0
In the above figure, the area of rectangle ABHG represents the monopolist's
A. average total profits. B. maximized economic profits. C. total costs. D. maximized total revenue.
Refer to the data. The marginal cost curve would intersect the average variable cost curve at about:
A. 2 units of output.
B. 4 units of output.
C. 6 units of output.
D. 7 units of output.