The budget constraint illustrates all of the combinations of goods and services that the consumer can afford
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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The Pricing Chips suggests that consumers choose between substitutes based on
A) comparative advantages. B) absolute prices. C) absolute opportunity costs. D) relative prices.
Economics
How can market failure occur in the market for hybrid automobiles? What could the government try to do to improve the situation?
Economics
A production possibility frontier that is a line sloping straight down from left to right suggests that:
Economics
Increases in long-run average cost that result from output increases is
A. diseconomies of scale. B. constant returns to scale. C. the law of diminishing marginal product. D. economies of scale.
Economics