Elected officials never care about the wishes of the voting public and govern using their own value system.
A. True
B. False
C. Uncertain
C. Uncertain
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At many municipal golf courses, local residents pay a lower fee to play than other golfers do. One necessary condition for the golf course to be able to successfully price discriminate according to residency is that
A) they can check the identification cards of golfers. B) local resident golfers and other golfers have the same price elasticity of demand to play at the municipal course. C) there are many golf courses nearby from which golfers can choose. D) they require all golfers to rent a cart.
Refer to the table below. If the cost per unit of advertising is constant at $550, what is the level of advertising per week that maximizes the industry joint profit?
Suppose the dairy industry is made of up only by the three firms above; Cow Haven, Free Cows, and Happy Cows.
A) 4 B) 5 C) 3 D) 2
An increase in an individual's income without changing relative prices will:
a. rotate the budget constraint about the X-axis. b. shift the indifference curves outward. c. shift the budget constraint outward in a parallel way. d. rotate the budget constraint about the Y-axis.
Assume that the adoption of a new technology costing $8 per year lowers the marginal cost of producing Good X from $7 to $3 . The firm will adopt the new technology if it expects annual profit to increase from $14 to $18
Indicate whether the statement is true or false