Which of the following is not an obstacle to development?
A. Overpopulation
B. Excessive investment
C. Political instability
D. Corruption
Answer: B
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When a competitive market maximizes economic surplus, it implies that the
A. quantity demanded is lower than the quantity supplied. B. marginal benefit of having the product is greater than the marginal cost. C. combined consumer and producer surplus is maximized. D. buyers are getting the maximum consumer surplus from the product.
In which of the following countries are substantial co-payments typically required as a part of the health care system?
A) Canada and the United States B) the United States and the United Kingdom C) the United States and Japan D) Japan and Canada.
Refer to Figure 11-6. In the figure above which letter represents the average variable cost curve?
A) A B) B C) C D) D
Describe the profit-maximizing firm’s decision about how much to spend on innovation.
What will be an ideal response?