What is likely to happen in a used-car market if the buyers feel that the best they can do is to buy a lemon?
A) The sellers of gems reap high profits.
B) Higher gains from trade are realized.
C) The entire market shuts down.
D) The sellers of lemons earn high profits.
C
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The above figure definitely shows
A) a long-run equilibrium for a monopolistically competitive firm. B) an industry with few firms. C) a long-run equilibrium for a perfectly competitive firm. D) a long-run equilibrium for a perfectly competitive market. E) a short-run equilibrium for a monopoly.
Government expenditures included in the expenditure approach to GDP include ________
A) Social Security and education B) net exports C) buying a new bomber D) Both answers A and C are correct.
In the Solow model, if f(k) = 6k0.5, s = 0.1, n = 0.1, and d = 0.2, what is the value of c at equilibrium?
A) 10 B) 10.4 C) 10.8 D) 11.2
If 100 shirts are sold when the unit price is $10, while 75 shirts are sold when the unit price is $15, one can conclude that in this price range,
What will be an ideal response?