Show graphically why economists refer to single-price monopoly market structure as inefficient.
What will be an ideal response?
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Which of the following is not part of M1?
a. Checking accounts. b. Coins. c. Credit cards. d. Paper currency.
One way in which antitrust law fosters economic efficiency is by
a. defining property rights for firms b. encouraging voluntary trade c. prohibiting firms from colluding to raise prices d. enforcing contracts between firms e. encouraging mergers that increase market power
In order to fix 1 car tire, jerry fixed 3 bicycle tires. In order to fix 1 car tire, berry fixes 5 bike tires, who has the comparative advantage
What will be an ideal response?
In order to internalize the externality due to pollution, the government should impose a tax based on
A. the value of the pollution-causing business activity. B. the physical amount of pollution. C. the size of the firm causing the pollution. D. the economic damage associated with the pollution.