Poverty can be eliminated without full employment
Indicate whether the statement is true or false
F
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An imperfectly competitive firm has the following total cost curve: C = 100 + 4Q. What is average fixed cost equal to when Q = 10?
What will be an ideal response?
If the cost of buying an identical basket of goods in country A is greater than country B: a. People will tend to sell currency from country A and buy currency from country B
b. The prices of those baskets of goods will tend to converge. c. If the goods in the baskets are internationally traded, the tendency for prices to converge will be stronger. d. All of the above are true.
Which of the following best describes the concept of "derived demand?"
a. The price of corn land determines the price of corn. b. The price of corn land has nothing to do with the price of corn. c. The price of corn determines the price of the land on which corn is grown. d. Cheap labor means cheap corn.
The production function for a good is a downward-sloping linear curve
a. True b. False Indicate whether the statement is true or false