The short-run supply curve for a perfectly competitive firm is that portion of the MC curve above the AVC curve.
Answer the following statement true (T) or false (F)
True
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Some people argue that protection discourages dependency. Explain this argument
What will be an ideal response?
If the agent has more information than the principal and there is only one state of nature, then
A) efficiency in both production and risk-bearing can be achieved. B) only efficiency in production can be achieved. C) only efficiency in risk-bearing can be achieved. D) neither efficiency in production nor efficiency in risk-bearing can be achieved.
The official poverty rate for all persons declined sharply between 1959 and:
A. the 2000s. B. the 1970s. C. the 1980s. D. the 1990s.
Josh is eating pizza at his favorite Italian restaurant. Below is his utility from this consumption:Table 19.1Slice of PizzaTotal UtilityMarginal UtilityFirst slice2020Second slice3919Third slice-15Fourth slice59-Refer to Table 19.1. What is Josh's total utility from consuming the third slice of pizza?
A. 0 utils. B. 54 utils. C. 5 utils. D. 20 utils.