When the government is heavily involved in the regulation of business activity, entrepreneurs will be encourage to spend more time and resources on
What will be an ideal response?
rent seeking
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If the production of oranges reduces global warming, then the equilibrium quantity of oranges will be ________ the socially optimal quantity.
A. higher than B. equal to C. lower than D. more valuable than
The analysis of how a customer's tastes for cars will change when his wealth triples is under the scope of:
A) ordinal study. B) comparative statics. C) marginal research. D) Pareto analysis.
Show that increasing returns to scale can co-exist with diminishing marginal productivity. To do so, provide an example of a production function with IRTS and diminishing marginal returns
What will be an ideal response?
Which of the following factors would not be considered by a fundamental analyst when predicting stock prices?
a. the future demand for a firm's products b. the patents held by a firm c. the likelihood of new firms competing with an existing firm d. potential changes in a firm's costs of production e. recent jumps in a firm's stock price