The break-up of slave families was most often due to:
a. the sale of fathers.
b. the sale of mothers.
c. the sale of children.
d. divorce.
c. the sale of children.
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A change in the income of buyers will normally change demand.
Answer the following statement true (T) or false (F)
If Melissa owns a software company that incurs no fixed costs, then
A) her total cost equals her total variable cost. B) she will earn an economic profit. C) her total variable cost is less than her total cost. D) her total cost equals zero. E) her marginal cost must equal zero.
An increase in the demand for computers and a decrease in the number of sellers of computers will definitely ________
A) increase the number of computers bought B) increase the price of a computer C) increase the price of a computer and the number of computers bought D) not change the price of a computer and increase the number of computers bought
The delivery of first-class mail by the U.S. Postal Service is an example of
A) a monopoly. B) an oligopoly because a few other firms provide delivery of letters and packages. C) perfect competition because consumers have access to other methods of written communication; for example, email and text messaging. D) monopolistic competition, because mail delivery is a differentiated product provided by many firms.