It is in society's best interest that the MC of the last unit produced of a good is equal to its MU
a. True
b. False
Indicate whether the statement is true or false
True
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Considering the information in the table shown, if Jack consumes 2 popsicles and 2 ice cream cones:
This table shows the different combinations of goods that Jack can consume, given that his income to spend on these two items is $10.
A. Jack still has $4 left to spend.
B. Jack still has $6 left to spend.
C. Jack still has $8 left to spend.
D. Jack still has $2 left to spend
Gross domestic product is the value of all final goods and services produced within a country during a given period of time
a. True b. False Indicate whether the statement is true or false
Which statement is false?
A. The monopolist's demand and marginal revenue curves are identical. B. Your local phone company is a natural monopoly. C. A monopoly can be a small firm. D. None of these statements are false.
Exhibit 17-1 Nation of Padia
Exhibit 17-1 shows the production possibilities curve of the nation of Padia, an LDC. With foreign investment, which of the following changes that was not previously possible would become possible?
A. a move from V to III B. a move from IV to II C. a move from III to a point beyond the production possibilities curve D. a move from III to I