Known world oil supplies will allow oil to last longer than any other source of energy
Indicate whether the statement is true or false
F Coal supplies will last longest.
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What is a gold standard?
What will be an ideal response?
Advertising costs
A) make the marginal revenue more elastic. B) shift the ATC curve upward. C) shift the marginal cost curve rightward. D) indirectly shift the marginal cost curve upward. E) affect the marginal cost but not the total cost.
Which price index tends to understate the impact of price changes on consumers?
A) Chain-weighted index B) Laspeyres index C) Paasche index D) Ideal cost-of-living index
There are ten states in the democratic nation of Katlandia, and each state has ten thousand residents. Although incomes vary, each Katlandian pays a tax equal to the total cost of all government projects divided by the number of residents in the country. Currently, two states each have one army base. An army base adds $2 million to a state's local economy each year. In addition, in terms of increased security, the annual marginal benefit to Katlandia of having an additional army base is shown below. The total cost of an army base is $8 million per year.
It is socially optimal for Katlandia to have:
A. four army bases. B. two army bases. C. three army bases. D. one army base.