A model is a simplified representation of an object or situation that includes enough of the key features to be useful
a. True
b. False
Indicate whether the statement is true or false
True
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Controls on GHG emissions from mobile sources
a. have been in place in the United States since the Clean Air Act of 1970 b. were recently established by the EPA and the National Highway Traffic Safety Administration (NHTSA) c. are implemented solely through CAFÉ standards issued by the EPA d. apply solely to heavy-duty trucks and rail transport vehicles
The marginal cost of educating a student is $30,000, and this cost is independent of the number of students. The figure above shows the marginal private benefit that a student receives from education
If schools are competitive, how many students are enrolled? A) zero B) 20,000 C) 50,000 D) It depends on the demand.
Big Waves is a large water park. Suppose the individual demand for entrance into Big Waves is Qd = 50 - (2 × P) and each consumer has the same demand. Big Waves has a constant marginal cost of $5 per consumer. If Big Waves charges a single entry price to each consumer, what is the profit-maximizing price per consumer?
A) $25 B) $15 C) $20 D) $10
A change in consumers' expectations about the future will shift both the aggregate expenditure curve and the aggregate demand curve
a. True b. False Indicate whether the statement is true or false