Most innovations come from just a few large industries.
Answer the following statement true (T) or false (F)
False
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Second-degree price discrimination allows firms to do all of the following except which one?
A) receive a higher price for the last units sold B) sell more units C) change some of the consumer surplus into profit D) receive a higher price of the first units sold
What determines whether the industry long-run supply curve is upward sloping or horizontal?
What will be an ideal response?
Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher
Which of the following is an example of a positive statement?
A) Basketball players should not be paid higher salaries than teachers. B) The poverty rate is 14%. C) A high rate of economic growth is good for the country. D) Everyone in the country needs to save money for retirement.