Special interest groups are very unlikely to push for policies that increase the size of their slice of the economic pie if it means that the overall size of the economic pie will shrink.
Answer the following statement true (T) or false (F)
False
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Refer to the graph shown. Which price combination is consistent with the budget line shown?
A. $2 per bagel, $2 per croissant B. $3 per bagel, $2 per croissant C. $2 per bagel, $4 per croissant D. $6 per bagel, $3 per croissant
The monopolist determines the price and quantity combination that maximizes short-run profits by
A. finding the quantity at which marginal cost and marginal revenue are equal and then using the demand curve to find price. B. finding the quantity at which average revenue and average total cost are furthest apart. C. finding the point at which marginal revenue and demand intersect. This gives the price and quantity that maximizes profits. D. determining the price by finding the highest price at which sales can be made and then using the demand curve to find the appropriate quantity.
The dividend earned by a domestic resident on a stock owned in a foreign company is an example of a(n) ________
A) import by the domestic resident B) factor payment received from foreigners C) transfer payment received from foreigners D) export by the domestic resident
Suppose you have saved $300 . You can spend it on a new stereo or on a weekend skiing trip. What is the opportunity cost of going on the skiing trip?
What will be an ideal response?