Which of the following statements is true?
A) As the rental prices of downtown apartments rise, only workers with the lowest opportunity cost of time will be willing to rent them.
B) As the rental prices of downtown apartments rise, only workers with the highest opportunity cost of time will be willing to rent them.
C) Optimizers with the lowest opportunity cost of time push up the rental price of apartments with the lowest commute time.
D) Optimizers with the highest opportunity cost of time push up the rental price of apartments with the highest commute time.
B
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Price discrimination is possible, in part, because
A) costs of production vary as output increases. B) monopolies are regulated. C) monopolies don't profit maximize. D) the willingness to pay can vary among groups of buyers. E) monopolies face horizontal demand curves.
Technological efficiency occurs when it is not possible for a firm to get more output from the inputs it is currently using
Indicate whether the statement is true or false
For the period we are studying (1789–1860), the United States
(a) was a high tariff, protectionist nation. (b) derived the vast majority of federal revenues from the tariff. (c) was divided on the question of the tariff, with the South generally in opposition to it. (d) was characterized by all of the above.
Many of the important international governmental institutions that deal with the global economy have their roots in the Bretton Woods conference at the end of World War II
Indicate whether the statement is true or false