In an English auction, the winner pays a price equal to ________
A) the value of the highest bid
B) the value of the lowest bid
C) his value for the good
D) the value of the second-highest bid
A
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If an industry is characterized by substantial diseconomies of scale, as a particular firm in the industry expands its production capacity we will observe:
A) a decrease in marginal costs. B) an increase in the marginal product of labor. C) a decrease in the total fixed costs of production. D) an increase in the average total costs of production.
People on welfare often face the highest marginal tax rates of anyone because ______
a. of our regressive income tax system b. of the non-deducibility of state sales taxes c. of the loss of entitlement payments when earning additional income d. of increasing marginal utility of income
The U.S. Department of Health and Human Services refused to allow waivers to individual states to amend the provisions of the Family Support Act
Indicate whether the statement is true or false
If the expected rate of return decreases
A. The demand for loanable funds will increase. B. The demand for loanable funds will decrease. C. The time value of money will increase. D. Market participants will save less money.